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U.S. stocks were rising as S&P heads toward another weekly win

AuthorLiz MoyerStock Markets
Published Jun 09, 2023 10:30AM ET Updated Jun 09, 2023 11:12AM ET
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Investing.com -- U.S. stocks were rising as the S&P 500 headed toward another weekly winning streak.

At 11:11 ET (15:11 GMT), the Dow Jones Industrial Average was up 113 points or 0.3%, while the S&P 500 was up 0.6% and the NASDAQ Composite was up 0.7%.

The S&P has touched a 20% rally from its recent low, exiting a bear market while investors await inflation data and the Fed’s next decision on interest rates. The move for the S&P marks the start of a new bull market, as defined by some investors.

Both the Nasdaq and S&P have marked new highs for the year in recent days as a better-than-expected season of earnings and expectations for a pause in rate hikes have boosted tech stocks.

Futures traders are betting that the Fed will hold interest rates steady next week, and the latest reading of the consumer price index on Tuesday could help shape expectations.

Shares of Tesla, Inc. (NASDAQ:TSLA) rose 6.2% after the electric car maker made an agreement with General Motors (NYSE:GM) to adopt its charging plug standard. That adds to Tesla’s existing agreement reached recently with Ford and helps advance Tesla’s status as the standard for charging plug technology.

U.S. stocks were rising as S&P heads toward another weekly win
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Comments (9)
Daniel Melendez
Daniel Melendez Jun 12, 2023 8:13AM ET
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Damn so no dip whats the point? It keeps going up boring and expensive
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Gothic Serpent
gothicserpent Jun 09, 2023 3:23PM ET
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Beautiful sea of green. Let's go!
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Casador Del Oso
Casador Del Oso Jun 09, 2023 3:08PM ET
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Schiller PE ratio is over 30 and median value is about 16. Talk about overvalued...
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First Last
First Last Jun 09, 2023 3:08PM ET
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Ratio was ~40 a few months ago.
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Casador Del Oso
Casador Del Oso Jun 09, 2023 3:08PM ET
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Once SP500 reaches 2700-2900 it will be pretty much fairly priced.
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Mitchel Pioneer
Mitchel Pioneer Jun 09, 2023 3:03PM ET
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The CRIMINAL MANIPULATION continues untethered, as Wall Street sends America into another weekend with a financial knife in the back after a flagrant, "late trade" show of predictable FRAUD.
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Ac Tektrader
Ac Tektrader Jun 09, 2023 3:03PM ET
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more canned complaints from https://investing.com's daily complainer Mitch pioneer.
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Ac Tektrader
Ac Tektrader Jun 09, 2023 2:38PM ET
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the breakout could be signaling another leg up in the S&P500...window dressing should conclude today...if this price level holds we could see a much higher prices......
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Casador Del Oso
Casador Del Oso Jun 09, 2023 2:16PM ET
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Still ignoring higher bond yields as overvalued stocks become even more overvalued.
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Steve Bucher
Steve Bucher Jun 09, 2023 1:45PM ET
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Were rising?
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First Last
First Last Jun 09, 2023 1:45PM ET
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Yes, from 3:30 am to 10:30 am
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Bob Bob
Bob Bob Jun 09, 2023 1:31PM ET
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15 year old massive bubble, economy slowing, reality will set in soon.
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Steven ML
Steven ML Jun 09, 2023 1:09PM ET
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'better-than-expected earnings...' here we go again. Good, old excuse for a green day
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