Dow Extends Winning Streak to Seven Sessions: Real Estate and Utilities Lead, Tech Lags

New York, New York United States of America
Airbnb issues weaker-than-expected current-quarter outlook, shares slide 6.9%
Arm Holdings reports fiscal fourth quarter results ahead of analysts' expectations but provides weak guidance for fiscal 2025
Crude oil futures see gains due to reduction in U.S. crude oil stocks and lingering demand concerns
Dow Jones Industrial Average extends winning streak to seven sessions with a 0.9% gain
Equinix reports strong results, sees increase in demand for AI products, up 11.5%
Federal Reserve speakers and weekly inflation numbers watched closely for interest rate hints
Initial jobless claims rise to 231,000 in the week that ended May 4
S&P 500 adds 0.5% and Nasdaq Composite tacked on 0.3%
Dow Extends Winning Streak to Seven Sessions: Real Estate and Utilities Lead, Tech Lags

Major U.S. stock indexes finished higher on May 9, 2024, with the Dow Jones Industrial Average extending its winning streak to seven consecutive sessions. The Dow rose 331 points, a 0.9% gain, to close at its highest level since April 1.

The S&P 500 added 0.5%, while the Nasdaq Composite tacked on 0.3%. Over the past week, stocks have been supported by hopes that economic data will show signs of easing inflationary pressures and potential interest rate cuts from the Federal Reserve.

Equinix, a data center real estate trust, reported strong results and saw an increase in demand for artificial intelligence products, leading to an 11.5% gain. However, Airbnb issued a weaker-than-expected current-quarter outlook, causing shares to slide 6.9%. Arm Holdings also reported fiscal fourth quarter results that came in ahead of analysts' expectations but provided weak guidance for fiscal 2025.

The yield on the two-year Treasury was down to 4.805%, while an auction of thirty-year notes saw solid demand. Initial jobless claims rose to 231,000 in the week that ended May 4, above consensus expectations.

Federal Reserve speakers and weekly inflation numbers were among the key events investors watched closely for any hints about the path forward for interest rates. Crude oil futures also saw gains as lingering support from a reduction in U.S. crude oil stocks offset concerns about demand ahead of the summer driving season.

The Dow Jones Industrial Average was led by sectors such as Real Estate (XLRE) and Utilities (XLU), while Technology (XLK) and Communications Services (XLC) lagged behind the S&P 500.


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Confidence

90%

Doubts
  • Federal Reserve speakers' comments could vary from market expectations
  • Initial jobless claims figure may be subject to revision

Sources

94%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Stock market today: Dow pops for 7th straight day as S&P 500 climbs back above 5,200

Yahoo Finance Karen Friar Friday, 10 May 2024 01:36
  • Unique Points
    • US stocks rose on Thursday as more evidence showed the US labor market continued to cool, reviving hopes for a rate cut by the fall.
    • Real Estate (XLRE) was the leading sector on Thursday with a gain of over 2%.
  • Accuracy
    • Initial weekly jobless claims came in at 231,000, an increase of 22,000 from the prior week and the highest level since August.
    • Arm Holdings reported better-than-expected results for the fiscal fourth quarter but weak guidance for fiscal 2025 resulted in a decline of 2.3%.
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (90%)
    The author presents a factual account of the stock market with some minor speculation on future events. There are no clear logical fallacies present in the text. However, there is an appeal to authority and inflammatory rhetoric.
    • . . . reviving hopes for a rate cut by the fall.
    • Most bets remain on a Fed rate cut in September.
    • In the corporate world, a downbeat annual revenue forecast from Arm (ARM) cast doubt on the hopes for AI growth that have boosted chip stocks.
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (100%)
    None Found At Time Of Publication

98%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Markets News, May 9, 2024: Dow Finishes More Than 300 Points Higher To Extend Winning Streak to Seven Straight Sessions

Investopedia Friday, 10 May 2024 01:37
  • Unique Points
    • The Dow Jones Industrial Average extended its winning streak to seven consecutive sessions, adding over 300 points and closing at its highest level since April 1.
    • Equinix, a data center real estate trust, posted strong results and saw an increase in demand for artificial intelligence products, leading to an 11.5% gain.
    • Airbnb issued a weaker-than-expected current-quarter outlook, overshadowing its first-quarter earnings and revenue that came in ahead of analysts’ expectations, causing shares to slide 6.9%.
  • Accuracy
    • The S&P 500 closed above 5,200 for the first time in a month, adding 0.5%.
    • Initial weekly jobless claims came in hotter than expected, giving stocks a boost amid hopes of a slowing economy suppressing inflation.
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (0%)
    None Found At Time Of Publication

95%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Stock Market News From May 9, 2024: Dow Hits 7-Day Winning Streak; Arm Holdings, Nvidia, Tesla, Robinhood, Airbnb and More Movers

Barron's Financial Group Friday, 10 May 2024 01:38
  • Unique Points
    • The Dow Jones Industrial Average had a seven-day winning streak as of May 9, 2024.
    • The yield on the two-year Treasury was down to 4.805%.
    • An auction of thirty-year notes saw solid demand.
    • Initial jobless claims rose to 231,000 in the week that ended May 4.
  • Accuracy
    • Arm Holdings reported a downbeat annual revenue forecast.
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (95%)
    No formal or informal fallacies were found in the article. There are no dichotomous depictions or appeals to authority. Inflammatory rhetoric is also absent. However, there are a few instances of quotes being taken out of context which slightly lowers the score.
    • Stocks closed higher Thursday, with the Dow Jones Industrial Average hitting its seventh day of gains.
    • The Dow Jones Industrial Average was up 331 points, or 0.9%.
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (0%)
    None Found At Time Of Publication