US open: Stocks higher following Dow's best week of the year

13th May 2024 15:21

(Sharecast News) - Wall Street stocks were trading only slightly higher at the opening bell on Monday following a winning week for the Dow.

As of 1540 BST, the Dow Jones Industrial Average was up 0.18% at 39,583.42, while the S&P 500 advanced 0.08% to 5,226.75 and the Nasdaq Composite came out the gate 0.23% firmer at 16,378.90.

The Dow opened 70.58 points higher on Monday, extending gains recorded in what was the blue-chip's best week so far this year.

As for the new week, market participants will hope to gain further insights into the Federal Reserve's thinking when it comes to the future of monetary policy, with April's consumer price index report set to be published on Wednesday. Investors will look to see numbers that signal a return to rate hikes being largely off the table despite several pieces of hotter-than-expected inflation data in recent months.

Elsewhere, Federal Reserve Bank vice chair Philip Jefferson said it was appropriate to keep interest rates steady until there was additional evidence that inflation will return to the central bank's 2% target.

In the corporate space, GameStop surged after the Reddit trader behind 2021's short squeeze posted for the first time in three years, while results will also remain in focus throughout the week as Q1 earnings season starts to quiet down.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Walgreens Boots Alliance, Inc. (WBA) $18.40 7.01%

Intel Corp. (INTC) $30.94 3.67%

3M Co. (MMM) $100.71 1.80%

Apple Inc. (AAPL) $185.53 1.35%

Cisco Systems Inc. (CSCO) $48.62 1.17%

Nike Inc. (NKE) $91.96 1.13%

Walmart Inc. (WMT) $61.07 0.98%

Boeing Co. (BA) $179.92 0.79%

Caterpillar Inc. (CAT) $357.21 0.68%

Dow Chemical Co. (DOW) $59.72 0.52%

Dow Jones - Fallers

Merck & Co. Inc. (MRK) $129.06 -0.77%

American Express Co. (AXP) $240.91 -0.57%

Home Depot Inc. (HD) $344.90 -0.44%

Unitedhealth Group Inc. (UNH) $510.59 -0.43%

Microsoft Corp. (MSFT) $413.08 -0.40%

Amgen Inc. (AMGN) $310.07 -0.03%

Procter & Gamble Co. (PG) $166.82 -0.02%

Dowdupont Inc. (DWDP) $0.00 0.00%

Travelers Company Inc. (TRV) $218.60 0.05%

Chevron Corp. (CVX) $165.94 0.07%

S&P 500 - Risers

Kohls Corp. (KSS) $26.31 9.95%

Incyte Corp. (INCY) $57.36 8.10%

Walgreens Boots Alliance, Inc. (WBA) $18.40 7.01%

Nordstrom Inc. (JWN) $21.65 5.20%

Carmax Inc. (KMX) $75.06 4.67%

VF Corp. (VFC) $13.01 4.67%

American Airlines Group (AAL) $14.98 4.03%

Vornado Realty Trust (VNO) $25.15 3.82%

Sl Green Realty Corp. (SLG) $54.21 3.76%

Intel Corp. (INTC) $30.94 3.67%

S&P 500 - Fallers

Alphabet Inc. Class A (GOOGL) $164.93 -2.21%

Mettler Toledo International (MTD) $1,477.70 -2.16%

Alphabet Inc. Class C (GOOG) $166.73 -2.09%

Booking Holdings Inc. (BKNG) $3,747.32 -1.54%

General Electric Co. (GE) $161.02 -1.44%

Stryker Corp. (SYK) $326.01 -1.38%

Arista Networks Inc. (ANET) $309.85 -1.33%

Quanta Services Inc. (PWR) $268.05 -1.27%

Boston Scientific Corp. (BSX) $72.78 -1.24%

Meta Platforms Inc. (META) $470.36 -1.23%

Nasdaq 100 - Risers

Qurate Retail Inc. (QRTEA) $0.79 13.53%

Incyte Corp. (INCY) $57.36 8.10%

Walgreens Boots Alliance, Inc. (WBA) $18.40 7.01%

JD.com, Inc. (JD) $34.33 6.62%

American Airlines Group (AAL) $14.98 4.03%

Intel Corp. (INTC) $30.94 3.67%

Sirius XM Holdings Inc (SIRI) $3.14 3.63%

Tesla Inc (TSLA) $174.33 3.48%

Baidu Inc. (BIDU) $111.99 3.06%

Illumina Inc. (ILMN) $113.35 2.55%

Nasdaq 100 - Fallers

Alphabet Inc. Class A (GOOGL) $164.93 -2.21%

Alphabet Inc. Class C (GOOG) $166.73 -2.09%

Booking Holdings Inc. (BKNG) $3,747.32 -1.54%

Meta Platforms Inc. (META) $470.36 -1.23%

Applied Materials Inc. (AMAT) $207.22 -1.20%

Seagate Technology Plc (STX) $92.97 -1.11%

Check Point Software Technologies Ltd. (CHKP) $150.19 -0.91%

Asml Holdings N.V. (ASML) $922.65 -0.82%

Cintas Corp. (CTAS) $694.91 -0.77%

Mercadolibre Inc. (MELI) $1,681.77 -0.72%