Stock Market Update
16-May-25 10:10 ET
Stocks open higher in momentum driven move
Dow +31.23
at 42353.98,
Nasdaq +40.23
at 19152.55,
S&P +8.90
at 5925.83
[BRIEFING.COM] The stock market opened to upside action in the major indices. Ongoing momentum after a big run has propelled the market higher. With today's move, the S&P 500 is about 3.5% below its all-time high.
Losses in some mega caps and chipmakers have kept a limit on upside moves. The PHLX Semiconductor Index (SOX) is 0.6% lower.
The preliminary University of Michigan Consumer Sentiment survey for May dropped to 50.8 (Briefing.com consensus 55.0) from 52.2.
The 10-yr yield is down six basis points to 4.40%, and the 2-yr yield is down three basis points to 3.94%.
