The US stock market's upward momentum weakened, with the S&P 500 halting its four-day winning streak, while the Dow Jones Industrial Average rose for the sixth consecutive day. Tesla fell more than 4% at one point, while crude oil experienced a significant rebound

Wallstreetcn
2024.05.08 22:50
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The Nasdaq fell for two consecutive days, the S&P closed flat, and the Dow set a new record for the longest consecutive rise in over four months. Among the components, Intel fell more than 2%, leading the decline; Tesla fell 1.7%. After the financial report, Shopify fell nearly 19%, marking its largest daily decline, Uber fell nearly 6%, Arm fell more than 8% after hours, and Robinhood rose more than 7% after hours. Chinese concept stocks fell for three consecutive days, with XPeng falling more than 6%, Nio falling more than 5%, while Xiaomi rose 7%. Pan-European and UK stocks hit record highs consecutively, with Siemens Energy rising nearly 13% after the financial report, supporting German stocks to hit new highs, AB InBev rising 4%, and BMW falling nearly 3%. Weak demand in US bond auctions pushed the yield on the 10-year US Treasury bond away from its near four-week low, rising for the first time in six days. The US dollar index rose for three consecutive days; the Governor of the Bank of Japan warned of intervention, and the Japanese yen fell for the third consecutive day; Bitcoin fell over a thousand dollars during the session, breaking below $62,000. The offshore renminbi fell by less than a hundred points during the session, breaching 7.23. Crude oil hit an over eight-week low before rebounding during the session, with US oil briefly rising over 3%. Gold fell for two consecutive days. London zinc fell nearly 2%, ending a 13-month high, while London copper fell $1,000, ending a two-day rise