{"id":10755,"date":"2023-11-07T18:40:35","date_gmt":"2023-11-07T18:40:35","guid":{"rendered":"https:\/\/infundpros.com\/markets\/dow-jones-edges-higher-as-stocks-attempt-to-push-winning-streak-to-7-days\/"},"modified":"2023-11-07T18:40:36","modified_gmt":"2023-11-07T18:40:36","slug":"dow-jones-edges-higher-as-stocks-attempt-to-push-winning-streak-to-7-days","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=10755","title":{"rendered":"Dow Jones edges higher as stocks attempt to push winning streak to 7 days"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002699293\" role=\"document\">\n<p>U.S. stocks edged higher Tuesday morning, with the S&amp;P 500 and Nasdaq Composite aiming for their longest winning streaks in two years as oil prices retreated and investors weighed comments from Federal Reserve officials.<\/p>\n<h2>What\u2019s happening<\/h2>\n<ul class=\"articleList\">\n<li>\n      The Dow Jones Industrial Average<br \/>\n        DJIA<br \/>\n       was up 35 points, or 0.1%, at 34,130.<\/p>\n<\/li>\n<li>\n      The S&amp;P 500<br \/>\n        SPX<br \/>\n       rose 8 points, or 0.2%, to 4,373.<\/p>\n<\/li>\n<li>\n      The Nasdaq Composite<br \/>\n        COMP<br \/>\n       advanced 100 points, or 0.7%, to 13,619.<\/p>\n<\/li>\n<\/ul>\n<p>If the S&amp;P 500 ends higher on Tuesday, its seven-day winning streak would be the longest since an eight-day stretch of gains that ended on Nov. 8, 2021. An eighth straight gain for the Nasdaq would mark its longest run since an 11-day streak that also ended on Nov. 8, 2021.<\/p>\n<div class=\"paywall\">\n<h2>What\u2019s driving markets<\/h2>\n<p>Stocks flipped between small gains and losses in early trade, with analysts looking for some near-term consolidation after a six-day jump that lifted the S&amp;P 500 around 6%. Stocks later pushed back to the upside.<\/p>\n<p>The bounce for equities comes after a three-month pullback that saw the S&amp;P 500 and Nasdaq slip into a market correction \u2014 a decline of 10% from a recent high. The drop left investor pessimism overdone, argued Solita Marcelli, chief investment officer for the Americas at UBS Global Wealth Management, in a note.<\/p>\n<p>\u201cWhile we see greater upside in the near term in fixed income, the return outlook for equities is positive, in our view. We believe the relatively benign backdrop for cash, fixed income, stocks, and alternatives makes this an opportune moment to add to diversified balanced portfolios,\u201d she said.<\/p>\n<p>Implied borrowing costs have been the primary driver of U.S. stocks of late. The 10-year Treasury yield<br \/>\n        BX:TMUBMUSD10Y<span>,<\/span><br \/>\n       which hit a 16-year high above 5% late last month, but then briefly fell below 4.5% on Friday after cooling jobs data. After a bounce Monday it was trading Tuesday near 4.59%.<\/p>\n<p>Oil prices fell back sharply on Tuesday, with the U.S. benchmark<br \/>\n        CL.1,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/211629951\/delayed\" class=\"negative\">-3.48%<\/bg-quote><br \/>\n       dropping back below $80 a barrel to trade at its weakest since August after China data raised demand concerns. Lower oil prices could help ease inflation worries, analysts said.<\/p>\n<p>Some investors see the market getting ahead of itself once again when it comes to the potential for easing by the Federal Reserve.<\/p>\n<p>The markets are building in four interest rate cuts next year, the first of which has been pushed forward to the May\/June time period, said Kent Engelke, chief economic strategist at Capitol Securities Management.<\/p>\n<p>\u201cNumerous Fed officials \u2014 including FRB Chair Powell \u2014 are slated to speak in the next few days. It is generally assumed these speakers, may \u2018push back\u2019 on this emerging narrative that the Fed is done, and the first-rate cut will occur in June,\u201d he said, in a note.<\/p>\n<p>This chimed with comments late Monday from Minneapolis Fed President Neel Kashkari, who said Fed officials have not discussed what it would take to cut interest rates.<\/p>\n<p>Investors were right to be wary about expressing overconfidence that the Fed would soon pivot to a more dovish stance, according to Jim Reid, strategist at Deutsche Bank.<\/p>\n<p>\u201c[T]his is at least the 7th time this cycle where markets have reacted notably in response to dovish speculation. Clearly rates aren\u2019t going to keep going up forever, but on the previous six occasions we saw hopes for near-term rate cuts dashed every time,\u201d said Reid.<\/p>\n<p>Fed Gov. Christopher Waller on Tuesday called the jump in the 10-year yield an \u201cearthquake\u201d in central banking terms, according to reports.<\/p>\n<p>\u201cHis remarks need to be understood in context \u2014 they were not part of a policy discussion and would likely have been more\u00a0hedged\u00a0if they were,\u201d said Krishna Guha, head of the global policy and central bank strategy team at Evercore ISI, in a note.<\/p>\n<p>\u201cBut it still seems fair to take away the impression that the Fed is not taking the position that all the yield-driven tightening of financial conditions unwound last week. That feels risk-positive on net,\u201d he wrote.<\/p>\n<p>New York Fed President John Williams was scheduled to address the Economic Club of New York Tuesday.<\/p>\n<p>A slowdown in job creation in October was welcome news because it brought the labor market into \u201ca more balanced\u201d and sustainable growth, said Chicago Fed President Austan Goolsbee in a television interview.<\/p>\n<p>The September U.S. trade deficit rose 4.9% to $61.5 billion. Consumer credit data for September is due at 3 p.m. Eastern time.<\/p>\n<h2>Companies in focus<\/h2>\n<ul class=\"articleList\">\n<li>\n      <strong>Uber Technologies Inc.<\/strong><br \/>\n        UBER,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/211348248\/composite\" class=\"positive\">+2.58%<\/bg-quote><br \/>\n       topped earnings expectations but came shy of forecasts with its third-quarter revenue. Shares rose 2.6%.<\/p>\n<\/li>\n<li>\n      Shares of <strong>Datadog Inc. <\/strong><br \/>\n        DDOG,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/214127379\/composite\" class=\"positive\">+29.36%<\/bg-quote><br \/>\n       jumped 29.5% after an upbeat earnings forecast. Shares of <strong>MongoDB Inc.<\/strong><br \/>\n        MDB,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/203302825\/composite\" class=\"positive\">+11.97%<\/bg-quote><br \/>\n       and <strong>Elastic NV<\/strong><br \/>\n        ESTC,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209635082\/composite\" class=\"positive\">+7.65%<\/bg-quote><br \/>\n       were also rallying as the results eased fears about consumption-based software companies for the latest quarter.<\/p>\n<\/li>\n<li>\n      <strong>D.R. Horton Inc. <\/strong><br \/>\n        DHI,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/202032328\/composite\" class=\"positive\">+2.86%<\/bg-quote><br \/>\n       shares rose 2,9% after the home builder\u2019s fiscal fourth-quarter results beat Wall Street analyst estimates for profit and revenue.<\/p>\n<\/li>\n<\/ul><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/s-p-500-futures-dip-after-six-day-winning-streak-8d539d83?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. stocks edged higher Tuesday morning, with the S&amp;P 500 and Nasdaq Composite aiming for their longest winning streaks in two years&#8230;<\/p>\n","protected":false},"author":1,"featured_media":10756,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":{"0":"post-10755","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Dow Jones edges higher as stocks attempt to push winning streak to 7 days | inFundPros<\/title>\n<meta name=\"description\" content=\"U.S. stocks edged higher Tuesday morning, with the S&amp;P 500 and Nasdaq Composite aiming for their longest winning streaks in two years as oil prices\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/infundpros.com\/?p=10755\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dow Jones edges higher as stocks attempt to push winning streak to 7 days | inFundPros\" \/>\n<meta property=\"og:description\" content=\"U.S. stocks edged higher Tuesday morning, with the S&amp;P 500 and Nasdaq Composite aiming for their longest winning streaks in two years as oil prices\" \/>\n<meta property=\"og:url\" content=\"https:\/\/infundpros.com\/?p=10755\" \/>\n<meta property=\"og:site_name\" content=\"inFundPros\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-07T18:40:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-07T18:40:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/11\/1699382435_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Press Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Press Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/infundpros.com\/?p=10755#article\",\"isPartOf\":{\"@id\":\"https:\/\/infundpros.com\/?p=10755\"},\"author\":{\"name\":\"Press Room\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff\"},\"headline\":\"Dow Jones edges higher as stocks attempt to push winning streak to 7 days\",\"datePublished\":\"2023-11-07T18:40:35+00:00\",\"dateModified\":\"2023-11-07T18:40:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/infundpros.com\/?p=10755\"},\"wordCount\":827,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/infundpros.com\/#organization\"},\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/infundpros.com\/?p=10755#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/infundpros.com\/?p=10755\",\"url\":\"https:\/\/infundpros.com\/?p=10755\",\"name\":\"Dow Jones edges higher as stocks attempt to push winning streak to 7 days | inFundPros\",\"isPartOf\":{\"@id\":\"https:\/\/infundpros.com\/#website\"},\"datePublished\":\"2023-11-07T18:40:35+00:00\",\"dateModified\":\"2023-11-07T18:40:36+00:00\",\"description\":\"U.S. stocks edged higher Tuesday morning, with the S&amp;P 500 and Nasdaq Composite aiming for their longest winning streaks in two years as oil prices\",\"breadcrumb\":{\"@id\":\"https:\/\/infundpros.com\/?p=10755#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/infundpros.com\/?p=10755\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/infundpros.com\/?p=10755#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/infundpros.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Dow Jones edges higher as stocks attempt to push winning streak to 7 days\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/infundpros.com\/#website\",\"url\":\"https:\/\/infundpros.com\/\",\"name\":\"Fintech Advance\",\"description\":\"Latest Finance and Tech News and Updates\",\"publisher\":{\"@id\":\"https:\/\/infundpros.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/infundpros.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/infundpros.com\/#organization\",\"name\":\"Fintech Advance\",\"url\":\"https:\/\/infundpros.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png\",\"contentUrl\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png\",\"width\":409,\"height\":70,\"caption\":\"Fintech Advance\"},\"image\":{\"@id\":\"https:\/\/infundpros.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff\",\"name\":\"Press Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png\",\"contentUrl\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png\",\"caption\":\"Press Room\"},\"sameAs\":[\"https:\/\/infundpros.com\"],\"url\":\"https:\/\/infundpros.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Dow Jones edges higher as stocks attempt to push winning streak to 7 days | inFundPros","description":"U.S. stocks edged higher Tuesday morning, with the S&amp;P 500 and Nasdaq Composite aiming for their longest winning streaks in two years as oil prices","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/infundpros.com\/?p=10755","og_locale":"en_US","og_type":"article","og_title":"Dow Jones edges higher as stocks attempt to push winning streak to 7 days | inFundPros","og_description":"U.S. stocks edged higher Tuesday morning, with the S&amp;P 500 and Nasdaq Composite aiming for their longest winning streaks in two years as oil prices","og_url":"https:\/\/infundpros.com\/?p=10755","og_site_name":"inFundPros","article_published_time":"2023-11-07T18:40:35+00:00","article_modified_time":"2023-11-07T18:40:36+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/11\/1699382435_social.jpeg","type":"image\/jpeg"}],"author":"Press Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Press Room","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/infundpros.com\/?p=10755#article","isPartOf":{"@id":"https:\/\/infundpros.com\/?p=10755"},"author":{"name":"Press Room","@id":"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff"},"headline":"Dow Jones edges higher as stocks attempt to push winning streak to 7 days","datePublished":"2023-11-07T18:40:35+00:00","dateModified":"2023-11-07T18:40:36+00:00","mainEntityOfPage":{"@id":"https:\/\/infundpros.com\/?p=10755"},"wordCount":827,"commentCount":0,"publisher":{"@id":"https:\/\/infundpros.com\/#organization"},"articleSection":["Markets"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/infundpros.com\/?p=10755#respond"]}]},{"@type":"WebPage","@id":"https:\/\/infundpros.com\/?p=10755","url":"https:\/\/infundpros.com\/?p=10755","name":"Dow Jones edges higher as stocks attempt to push winning streak to 7 days | inFundPros","isPartOf":{"@id":"https:\/\/infundpros.com\/#website"},"datePublished":"2023-11-07T18:40:35+00:00","dateModified":"2023-11-07T18:40:36+00:00","description":"U.S. stocks edged higher Tuesday morning, with the S&amp;P 500 and Nasdaq Composite aiming for their longest winning streaks in two years as oil prices","breadcrumb":{"@id":"https:\/\/infundpros.com\/?p=10755#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/infundpros.com\/?p=10755"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/infundpros.com\/?p=10755#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/infundpros.com\/"},{"@type":"ListItem","position":2,"name":"Dow Jones edges higher as stocks attempt to push winning streak to 7 days"}]},{"@type":"WebSite","@id":"https:\/\/infundpros.com\/#website","url":"https:\/\/infundpros.com\/","name":"Fintech Advance","description":"Latest Finance and Tech News and Updates","publisher":{"@id":"https:\/\/infundpros.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/infundpros.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/infundpros.com\/#organization","name":"Fintech Advance","url":"https:\/\/infundpros.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/infundpros.com\/#\/schema\/logo\/image\/","url":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png","contentUrl":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png","width":409,"height":70,"caption":"Fintech Advance"},"image":{"@id":"https:\/\/infundpros.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff","name":"Press Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/infundpros.com\/#\/schema\/person\/image\/","url":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png","contentUrl":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png","caption":"Press Room"},"sameAs":["https:\/\/infundpros.com"],"url":"https:\/\/infundpros.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts\/10755","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10755"}],"version-history":[{"count":1,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts\/10755\/revisions"}],"predecessor-version":[{"id":10757,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts\/10755\/revisions\/10757"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/media\/10756"}],"wp:attachment":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10755"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10755"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10755"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}