From Investing.com: 2024-05-10 18:50:48

U.S. stocks saw modest gains as investors analyzed comments from Federal Reserve officials and awaited key inflation data. The Dow had its biggest weekly increase since December, with all three indexes up for the week. Analysts expect CPI to show a 3.6% core price increase, the lowest in three years.

Consumer Sentiment took a substantial hit in May, with increased inflation expectations. The S&P 500 rose 0.16%, the Nasdaq dropped 0.03%, and the Dow gained 0.32%. Consumer staples led gains, while consumer discretionary lagged. Most S&P 500 companies beat Q1 earnings estimates, with Nvidia and Novavax making notable stock moves.

Novavax shares soared 98.7% after securing a licensing deal worth up to $1.2 billion with Sanofi. SoundHound AI jumped 7.2% after surpassing Q1 revenue estimates. Declining stocks slightly outnumbered advancers. The S&P 500 hit 58 new highs, Nasdaq 95 new highs and 105 new lows. Trading volume was lower than the 20-day average.



Read more at Investing.com: Wall Street closes up, another weekly gain ahead of inflation data By Reuters