From Nasdaq: 2024-05-02 16:24:39

Stocks soared today as both the Dow and Nasdaq added triple digits, with the Dow achieving its biggest single-session gain since March 27. Investors digested the recent Fed decision and commentary, alongside a flood of corporate earnings reports. Big tech stocks saw a boost as bond yields dropped, with focus now turning to tomorrow’s nonfarm payrolls report for April.

In other news: Sony Global and Apollo Global proposed a $26 billion acquisition of Paramount Global, Rivian Automotive received $827 million from Illinois to expand its plant, Peloton stock fell despite job cuts, a disappointing profit forecast hurt DoorDash stock, and Carvana stock continues to thrive on Wall Street.

Oil prices in the U.S. fell for the second day, but rose globally, while gold prices also slipped slightly with June-dated gold futures settling at $2,309.60.



Read more at Nasdaq: Stocks Post Strong Gains Amid Earnings Rush