Underneath the surface, though, a number of stocks staged big rallies—helping lift the S&P 500 out of a bear market on Thursday, and powering the Nasdaq Composite to its longest streak of weekly gains since 2019.
Tesla stock, which surged all week long, extended its rally after General Motors said it would produce electric vehicles with Tesla charge ports starting from 2025. Chipmakers added to their substantial gains for the year.
Stocks rose. The S&P 500 notched its fourth straight week of gains, while the Nasdaq Composite logged its seventh straight consecutive weekly advance.
Tesla shares had their 11th straight session of gains. That ties its previous longest winning streak, which ended in January 2021. (Another stock that has risen for 11 straight sessions: Delta Air Lines, up about 12% during that time.)
Treasury yields edged higher. The yield on the 10-year note crept up to 3.735%, from 3.714% a day earlier.
Overseas stocks were mixed. Asian stocks gained, with Japan’s Nikkei 2% higher and Hong Kong’s Hang Seng up 0.5%. The Stoxx Europe 600 fell 0.1%.
The Turkish lira continued to slide. The currency hit a new record low against the dollar after a former First Republic executive was appointed to head Turkey’s central bank.
https://ift.tt/e5EANaJ
Business
Bagikan Berita Ini
0 Response to "Stock Market News, June 9, 2023: S&P 500 Finishes Higher After Entering Bull Market - The Wall Street Journal"
Post a Comment