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Dow to Push for 8-Session Win Streak

Friday, May 10, 2024 09:42 AM | Baystreet via QuoteMedia

Dow to Push for 8-Session Win Streak

U.S. stock futures rose Friday, putting the Dow Jones Industrial Average on track for another winning session.

Futures for the 30-stock index jumped 101 points, or 0.3%, to 39,637.

Futures for the S&P 500 regained 17.75 points, or 0.3%, at 5,256.75.

Futures for the NASDAQ Composite resurfaced 77.5 points, or 0.4%, to 18,292.

The Dow enters Friday riding a seven-day winning streak, its longest since a nine-day run seen in December. The S&P 500 also advanced Thursday, closing above 5,200 for the first time since early April.

Investors have been more optimistic lately after the Federal Reserve indicated the next move is unlikely to be a hike, pointing to a cap on interest rates that could be bullish for equities. A strong earnings season, as well as some softer labour data, have also bolstered confidence in the stock outlook.

Stocks are on pace for a winning week as of Thursday's close. The Dow has gained 1.8%. The S&P 500 captured 1.7% and the NASDAQ Composite was higher by 1.2%.

In Japan, the Nikkei 225 progressed 0.4%, while in Hong Kong, the Hang Seng Index popped 2.3%.

Oil prices climbed 41 cents to $79.67 U.S. a barrel.

Gold prices took on $32.80 to $2,373.10 U.S. an ounce.

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