Stock Market Update
14-May-24 11:05 ET
AMC, GME continue surge
Dow +42.95
at 39474.46,
Nasdaq +61.07
at 16449.31,
S&P +7.80
at 5229.22
[BRIEFING.COM] The S&P 500 and Dow Jones Industrial Average hit session lows in recent trading before bouncing. The major indices are following the ebb and flow in mega cap stocks.
The meme stocks -- GameStop (GME 52.56, +22.11, +72.6%), AMC Entertainment (AMC 9.96, +4.77, +91.9%), and others -- continue their surge that began yesterday. Shares of GME and AMC are halted now.
A short time ago, Fed Chair Powell said he doesn't think the next rate move will be a hike and a hold is more likely. He also said that time will tell if the policy is sufficiently restrictive, adding that today's PPI reading was quite mixed.
