Stock Market Update
28-Oct-24 10:10 ET
Stocks move higher after S&P 500 broke winning streak last week
Dow +255.80
at 42370.20,
Nasdaq +129.55
at 18648.15,
S&P +29.43
at 5837.55
[BRIEFING.COM] The stock market opened to gains after the S&P 500 broke a six-week winning streak last week. The S&P 500 sports a 0.5% gain, the Nasdaq Composite trades up 0.6%, and the Dow Jones Industrial Average trades 0.6% higher.
Buying activity is broad based thus far, leading ten of the 11 S&P 500 sectors to trade higher. The rate-sensitive utilities (+1.0%) and real estate (+1.0%) sectors lead the pack despite a move in the 10-yr yield to 4.25% from 4.26%.
The only sector trading lower is energy, down 1.1% from Friday as oil prices slide. WTI crude oil futures are down 5.5% to $67.87/bbl after Israel's retaliation against Iran was limited to military targets, sparing oil and nuclear facilities.
