Dow Jones Gains Amid These Inflation Hopes; Twitter Slams Elon Musk Ahead Of This; Apple Stock Surges
The Dow Jones Industrial Average rose amid rising hopes for cooler inflation. Twitter (TWTR) fell after it slammed Tesla (TSLA) CEO Elon Musk.
Apple (AAPL) is nearing an aggressive entry after surging. A trio of stocks made bullish moves amid the positive action.
Devon Energy (DVN), Restaurant Brands (QSR) and NRG Energy (NRG) all cleared buy points.
Volume was mixed, running lower on the Nasdaq but rising on the New York Stock Exchange vs. the same time Friday.
The yield on the benchmark 10-year Treasury note edged one basis point higher to 3.33%. West Texas Intermediate crude oil rose more than 1% to about $88 per barrel.
There were some encouraging signs on inflation sentiment which aided stocks.
Respondents to the Federal Reserve's August Survey of Consumer Expectations are expecting the annual inflation rate to be 5.7% a year from now.
This is a decline from 6.2% in July and would be the lowest level since October 2021. Falling gas prices are helping to drive optimism.
Three-year inflation expectations fell to 2.8% in August. This is tied for the lowest level for this metric since November 2020.