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Dow jumps 150 points as Wall Street heads for a winning week

Tiger Newspress2021-05-28

U.S. stocks climbed on Friday as major averages headed for a winning week amid growing optimism over the U.S. economic recovery.

The Dow Jones Industrial Average gained 150 points. The S&P 500 rose 0.4% and the tech-heavy Nasdaq Composite traded up 0.4%.

The S&P 500 is up more than 1% week to date and sits less than 1% from a record. The blue-chip Dow is also more than 1% higher over the same time period, while the Nasdaq has gained 2.3%.

Salesforceshares rose about 4% in premarket trading after the software company'sfirst-quarter earningsbeat Wall Street expectations on its top and bottom lines.HPshares dropped 5% despite the company's better-than-expected second-quarter results.

Ford was higher once again, up 1% in premarket trading Friday. The stock is up 11% this week so far after unveiling a new electric vehicle strategy.

A key inflation indicator — the core personal consumption expenditures index —rose 3.1% in April,faster than expectations of a 2.9% increase but not as hot as many on Wall Street had feared. Meanwhile, the savings rate remained elevated at 14.9% last month, while consumer spending rose 0.5%, in line with estimates.

Meme stocksfueled by traders in Reddit's WallStreetBets forum surged on Thursday, withAMCshooting up as much as 47%. Shares of the movie-theater chain closed 35.6% higher while another meme stock, GameStop, gained 4.8%.

AMC was up another 10% in premarket trading Friday.

The moves higher this week come as investors monitor the back-and-forth in Washington over a comprehensive infrastructure package that could further boost the economic recovery. Senate Republicans unveiled a$928 billion infrastructure counterofferto President Joe Biden on Thursday. However, that's well below Biden's most recent proposal of $1.7 trillion.

For the month of May, the S&P 500 is essentially flat, while the Dow is up 1.7%. The Nasdaq is off by about 1.6%.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Comment34

  • TerenceD
    ·2021-05-31
    That’s ?? 
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  • winnerking
    ·2021-05-30
    up
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  • ivanlam
    ·2021-05-30
    Great ariticle, would you like to share it?
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    • ivanlam
      [开心]
      2021-05-30
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    • Beez1119
      [微笑]
      2021-05-30
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  • Sam51
    ·2021-05-30
    Pls like and comment tq 
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    • tearach
      like pls
      2021-05-31
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  • Ruixiang
    ·2021-05-30
    Comment
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  • Ivylow
    ·2021-05-30
    ?
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    • Felixsxl
      Like and comment
      2021-05-30
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  • 小红盛虎
    ·2021-05-29
    Like
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    • Sam51
      Pls comment on my comment tq
      2021-05-30
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    • RC_ADRIC
      Loke and Commet
      2021-05-30
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  • Felk
    ·2021-05-29
    Good
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  • kevinlaisq
    ·2021-05-29
    Please comment and like
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    • RC_ADRIC
      Comment
      2021-05-30
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  • 9199ni
    ·2021-05-29
    wow
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    • kevinlaisq
      please comment and like
      2021-05-29
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  • 神算大仙
    ·2021-05-29
    Good
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  • Mccoy
    ·2021-05-28
    To the moon!
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  • kuehlapis
    ·2021-05-28
    give a like and comment for good luck! ?
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    • ISSEY1413
      follow me for good luck
      2021-05-28
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  • Jessytan
    ·2021-05-28
    chilling week ahead
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    • sk5735
      Yea
      2021-05-28
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  • GANCL
    ·2021-05-28
    It will continue to head up
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    • KLC
      Yes
      2021-05-28
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  • LeonYeo
    ·2021-05-28
    Well done
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  • pancake23
    ·2021-05-28
    Cool
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  • Victorhc88
    ·2021-05-28
    Like n comment, thk u
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  • ppssll
    ·2021-05-28
    Like n comment. Thank u
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