Markets Aim to Drive Streak to 5 Sessions - InvestingChannel

Markets Aim to Drive Streak to 5 Sessions

The Dow Jones Industrial Average rose Thursday, the last day of the month, as Wall Street tried to stretch a late-August winning streak to five sessions.

The 30-stock index zoomed 95.44 points to 34,985.68.

The S&P 500 index forged ahead 14.86 points to 4,529.73.

The NASDAQ index soared 80.32 points to 14,099.64.

The Dow got a boost from Salesforce. Shares advanced more than 5% after the software company announced fiscal second-quarter results and third-quarter guidance Wednesday that exceeded analysts’ expectations.

Investors are coming off a positive session, with the S&P 500, Dow and NASDAQ notching a four-day winning streak. Those gains helped the major indexes trim their monthly losses. All three benchmarks are down more than 1% Traders on Thursday also pored over new U.S. inflation data. The core personal consumption expenditures index increased 0.2% month-over-month in July and 4.2% year over year, matching estimates from economists polled by Dow Jones. The core PCE is a closely watched inflation indicator by the Federal Reserve.

Investors will now turn their attention to non-farm payroll data due out Friday morning. Economists polled by Dow Jones forecast 170,000 additions. Traders are holding onto hope that the report will indicate that the economy is slowing meaningfully, and ultimately give the central bank reason to pause benchmark interest rate hikes.

Prices for the 10-year Treasury gained, lowering yields to 4.10% from Wednesday’s 4.12%. Treasury prices and yields move in opposite directions.

Oil prices moved up $1.31 to $82.94 U.S. a barrel.

Gold prices slid $1.20 to $1,971.80 U.S. an ounce.

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