May 10, 2018: Markets opened higher again Thursday following a report that the consumer price index rose just 0.2% in April (only 0.1% excluding food and energy). The gain could indicate that the Fed won’t rush to raise interest rates again. Even Trump’s decision to pull out of the Iran nuclear deal is not pushing flows out of equities and into safe havens although 10-year Treasuries hit 3% today and gold traded a little higher.
WTI crude oil for June delivery settled at $71.36 a barrel, up 0.3% for the day. June gold added about 0.7% on the day to settle at $1,322.30. Equities were headed for a higher close about 10 minutes before the bell as the Dow traded up 0.78% for the day, the S&P 500 traded up 0.86%, and the Nasdaq Composite traded up 0.80.
Bitcoin futures (XBTK8) for May delivery traded at $9,100, down about 2% on the CBOE after opening at $9,245 this morning. The trading range today was $9,075 to $9,420. Trading platform Robinhood announced a $363 million venture funding round today that values the company at $5.6 billion.
The Dow stock posting the largest daily percentage gain ahead of the close Thursday was The Walt Disney Co. (NYSE: DIS) which traded up 1.70% at $101.67X. The stock’s 52-week range is $96.20 to $113.19. Volume was about 15% below the daily average of around 8 million shares. The company’s latest movie mega-hit, “Avengers: Infinity War,” opens in China this weekend.
Exxon Mobil Corp. (NYSE: XOM) traded up 2.05% at $81.57 in a 52-week range of $72.16 to $89.30. Volume was about 10%below the daily average of 15.1 million. The company had no specific news, but oil prices continue moving higher and natural gas prices were also up after today’s storage report.
UnitedHealth Group Inc. (NYSE: UNH) traded up 1.73% at $233.18. The stock’s 52-week range is $166.65 to $250.79. Volume was about 60% below the daily average of around 3.5 million shares. The company had no specific news.
Verizon Communications Inc. (NYSE: VZ) traded up 1.44% at $47.05. The stock’s 52-week range is $42.80 to $54.77. Volume was about 25% below the daily average of around 16.3 million. The company had no specific news.
Of the Dow stocks, 25 are on track to close higher Thursday and 5 are set to close lower.
24/7 Wall St.The Average American Is Losing Momentum On Their Savings Every Day (Sponsor)
If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4%1 today. Checking accounts are even worse.
But there is good news. To win qualified customers, some accounts are paying more than 7x the national average. That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 4.00% with a Checking & Savings Account today Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.