Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

U.S. Stocks Open Higher, on Track for a Weekly Gain

Published 26/05/2022, 14:50
Updated 26/05/2022, 14:50
© Reuters

© Reuters

By Liz Moyer

Investing.com -- U.S. stocks opened higher on Thursday as investors tried to sustain a rally while they digested the latest information from the Federal Reserve.

At 9:36 AM ET, the Dow Jones Industrial Average rose 251 points or 0.8%, while the S&P 500 rose 0.6% and the NASDAQ Composite ticked up 0.1%.

Minutes of the Federal Reserve's last meeting in early May indicated the central bank could slow the pace of its interest rate increases later this year if inflation trends lower and the labor market shows less of a demand-supply imbalance. That cheered investors and has sent stocks higher.

Shares of department store operator Macy’s Inc (NYSE:M) jumped 15% in the premarket after it raised its full-year profit forecast, helped by strong demand for apparel from consumers returning to work and social events.

Apple Inc (NASDAQ:AAPL) shares fell 1.9% on a report by Bloomberg that the company expects not to increase production of its iPhones this year because of disruptions in China linked to lockdowns.

Twitter Inc (NYSE:TWTR) shares climbed 5.7% in premarket trading after a filing showed that Tesla (NASDAQ:TSLA) CEO Elon Musk lifted his personal commitment in buying the social media platform by $6.25 billion to $33.5 billion and was also in talks with shareholders for additional financing commitments to fund the deal.

Oil was also on the rise. Crude Oil WTI Futures jumped 1.5% in early trading, to $112 a barrel, and Brent Oil Futures crude rose 0.9% to $112.09. Gold Futures was flat at $1,844 an ounce.

 

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.