Reported 4 months ago
On May 29, 2024, the stock market experienced mixed results as the Nasdaq reached a record high while the Dow Jones Industrial Average tumbled over 200 points. Nvidia's strong performance boosted the Nasdaq, but overall market sentiment was weakened by a spike in Treasury yields and hawkish comments from Federal Reserve officials. The 10-year Treasury yield rose above 4.5%, and investors are awaiting the personal consumption expenditures price index report for insights into potential rate cuts. Additionally, other news included GPT-4 outperforming humans in financial analysis, AI adding $230 billion to US tech billionaires' wealth, and UBS raising its S&P 500 price target. In commodities, oil prices rose, gold increased, the 10-year Treasury yield spiked, and Bitcoin dropped.
Source: YAHOO