Stock market news live updates: Stocks notch longest winning streak since late 2021 – Yahoo Finance

U.S. stocks soared Friday as a rally fueled by lighter-than-expected inflation data this week helped equity markets log their longest winning streak since November 2021.
Tech stocks again led gains, with the Nasdaq up 2.1% and closing above 13,000 for the first time since April 25. The S&P 500 jumped 1.7% as the benchmark index registered a fourth-straight weekly gain, and the Dow Jones Industrial Average surged 420 points, or roughly 1.3%.
Apple (AAPL) shares gained 2% following a Bloomberg News report that indicated the tech giant expects to sustain iPhone sales in 2022 despite a market slowdown. The company projects it will assemble roughly 220 million iPhones in total this year, per Bloomberg, which cited people familiar with the matter. Apple’s sales and production expectations are typically a closely-guarded secret.
Electric-vehicle maker Rivian Automotive (RIVN) was on watch after the company on Thursday reported a wider-than-expected loss for the second quarter but maintained its production outlook for the rest of the year. Shares closed slightly lower after paring losses from a sharper drop earlier in the session.
Economic data in recent days has reassured investors that inflationary pressures are beginning to cool across the economy after climbing at a steady pace since early 2021. The producer price index (PPI) on Thursday showed prices fell 0.5% from the prior month compared to expectations of a 0.2% increase. On Wednesday, the consumer price index (CPI) showed prices stayed flat over the month and rose a less-than-expected 8.5% annually.
On the heels of lighter prints for consumer and producer prices, a reading on U.S. import prices out Friday reflected their first decline in seven months in July, according to data from the Labor Department. Import prices fell by a better-than-expected 1.4% last month after rising 0.3% in June, the largest monthly drop since April 2020.
“The fact we’re starting to see energy prices come down, that might be a sign of what is more to come for other inflation indicators,” iCapital Network Chief Investment Strategist Anastasia Amoroso told Yahoo Finance Live. “We’re starting to chip away at this inflation issue, and that’s a big catalyst for the markets.”
CPI data on Wednesday showed the gasoline index fell 7.7% month-over-month in July – the largest drop since April 2020 – as gas prices fall over the past 59 days to dip below $4 a gallon for the first time since March on Thursday, data from AAA showed.
Elsewhere in economic releases, the University of Michigan’s preliminary August reading on its consumer sentiment index ticked up last month from a record low earlier this summer at a reading of 55.1. The figure came in at 51.5 in the prior month and hit a record low of 50 in June.

Alexandra Semenova is a reporter for Yahoo Finance. Follow her on Twitter @alexandraandnyc
Click here for the latest stock market news and in-depth analysis, including events that move stocks
Read the latest financial and business news from Yahoo Finance
Download the Yahoo Finance app for Apple or Android
Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and YouTube
Related Quotes
Here are the markets that will be open on Columbus Day, also recognized as Indigenous Peoples' Day, on Monday, Oct. 10.
Everyone knows that you should buy low and sell high if you want to turn a profit in the markets. The trick is finding the bottom, to know when to buy. Jim Cramer, the well-known host of CNBC’s ‘Mad Money’ program, sees the market bottom hitting in the next couple of weeks, making the end of October the right time for investors to buy in. Referring to some recent predictions by market technician Larry Williams, Cramer says, “The bear market is more or less… toast and, even if the current rally s
PayPal is in trouble. "You are independently responsible for complying with all applicable laws in all of your actions related to your use of PayPal's services, regardless of the purpose of the use," the document, called "Acceptable Use of Policy," said.
The veteran telecom company is having a stellar year in many respects, but reason for concern has emerged.
The year 2022 has been a painful journey for semiconductor manufacturers. Following the example of AMD , Nvidia and Intel , which are the three main players in the sector, 2022 is a year to forget .Their valuations are in recession. Advanced Micro Devices (AMD) currently has a market value of $94.4 billion, which is a decrease of at least $83 billion compared to December 31, 2021.
If you buy one between now and the end of October, you’ll earn a composite interest rate of 9.62%.
A market rally attempt is reeling as the indexes plunged on Friday's jobs report. Tesla, AMD and On Semi sold off.
Tesla stock is forming a bearish head-and-shoulders pattern. And with CEO Elon Musk likely selling more stock to fund his Twitter purchase, shares of the electric-vehicle giant might have further to fall.
For the retail investor, the only certainty of our current market environment is uncertainty. Volatility is up, and the main indexes are showing deepening losses. As if that wasn't enough, at least one market bull is turning a bit more pessimistic. JPMorgan strategist Marko Kolanovic has been one of the more bullish voices on Wall Street in recent months, but current conditions have him pushing the timeline back. While he still believes that the S&P 500 can hit 4,800, or a 32% gain from current
These surefire stocks are ripe for the picking following a 34% peak decline in the Nasdaq Composite.
Lifetime annuities, a kind of do-it-yourself pension that can provide you a guaranteed income until the day you die, have suddenly become a much, much better deal. The pooled longevity risk is what makes them so useful.
“The thing about Finland is that when you ask a straight question you usually get a straight answer,” remarked one fan of Ms Marin
(Bloomberg) — Global finance chiefs gather in Washington in the coming days with the warning of a possible $4 trillion loss in the world’s economic output ringing in their ears.Most Read from BloombergRussia Races to Reopen Crimea Bridge Damaged in Fiery BlastPutin Orders Sakhalin-1 Project Transferred to Russian EntityFacebook Is Warning 1 Million Users About Stolen Usernames, PasswordsNATO Once Feared a Putin Victory. Now It Worries Over His DefeatUkraine Latest: Russia Names New General; Bla
AMD stock is hitting 52-week lows as it reports disappointing preliminary revenue results. Here's when to buy the chipmaker's shares.
In Musk v. Twitter, a part of the business life of the richest man in the world is revealed. Private messages exchanged with his inner circle immerse us into his process when he conceives an idea. The messages were released by the Delaware Chancery Court as part of the proceedings between the two parties.
These companies have the fuel to continue piping income into their investors' pockets in the coming years.
The warehouse club has always been a little different when it comes to its policies on credit cards.
What do Amazon, Microsoft, and Google parent Alphabet have in common? The company develops ready-made and customizable AI solutions for hundreds of companies across different industries, which can materially accelerate their adoption of advanced technology. Cloud-computing technology is key to businesses that operate online in any capacity, and the three leading providers of cloud services happen to be Amazon Web Services (AWS), Microsoft Azure, and Google Cloud.
Britney Spears is savoring her last moments of summer by embarking on another tropical getaway.
The public is now at least a little bit more aware of the ambition behind Nintendo's highly anticipated "The Super Mario Bros. Movie." The title itself asserts significance. It's not "Super Mario Bros. The Movie," as the 1993 live-action film called itself. That film was blasted so hard by critics that it shelved the idea of a Mario-based film for three decades. (The Washington Post went against the critical consensus; our review calling that film "a blast" is forever emblazoned on the cover of


Leave a Comment