economy
Wednesday's big stock stories: What’s likely to move the market in the next trading session
The S&P 500 eked out a narrow gain on Tuesday, posting its first close above the 7,600 level.
TL;DR
- S&P 500, Nasdaq Composite, and Dow Industrials all closed at record highs on Tuesday.
- The S&P 500 posted its ninth consecutive day of gains, its longest streak since May.
- Key economic data, including ADP payroll numbers and earnings reports from Macy's and Broadcom, are anticipated.
- HPE shares surged 19.5% on strong AI-related demand, reaching a record high.
- Palo Alto Networks shares jumped following a strong earnings report that beat top and bottom line estimates.
- Apple shares closed at a record, potentially marking an 11th consecutive up week.
- Microsoft experienced its biggest drop since February after unveiling its first AI coding model at its Build conference.
- Netflix shares fell for the seventh straight day, marking its longest losing streak since November 2022.
- U.S. regulators are speeding up the restart of the Three Mile Island nuclear power plant, boosting nuclear and uranium stocks.
- Bitcoin fell below $70,000, and Ethereum dropped below $2,000, impacting crypto-adjacent stocks like Robinhood and Coinbase.
- The NBA Finals begin with the Knicks and Spurs, and MSG Sports, the parent company of the Knicks, saw its stock close at a record.