Dow Jones Extends Winning Streak to Eight Consecutive Days

by Jennifer

U.S. equities are poised for another positive conclusion to the week on Friday, fueled by the latest data indicating higher-than-expected weekly jobless claims, which have injected fresh momentum into the stock market rally amidst expectations of interest-rate cuts.

Dow Jones Industrial Average futures surged by 77 points, or 0.2%, reflecting the market’s optimistic sentiment. Meanwhile, S&P 500 futures and Nasdaq 100 futures were also on the rise, up by 0.3% and 0.4% respectively.


The Dow continued its winning streak for the eighth consecutive day on Thursday, driven by the news that initial jobless claims climbed to 231,000 in the week ending May 4, surpassing consensus forecasts. Despite this, the yield on the benchmark 10-year Treasury note remained relatively steady early Friday, hovering at 4.458%, after experiencing a slight decline following the release of the jobless data.


Commenting on the market outlook, Deutsche Bank analyst Henry Allen noted in a research report on Friday, “The next hurdle will be the US inflation numbers for April next week, but so far this month at least, investors have moved to expect a more dovish stance of monetary policy than they thought would happen at the end of April.”

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