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Today’s Live Updates on the Stock Market in 13 Words or Less

Today’s Live Updates on the Stock Market in 13 Words or Less

The U.S. stock market remained relatively flat following a notable week, with the S&P 500 index seeing a marginal decline and the Dow Jones Industrial Average also slipping slightly. The Nasdaq Composite fell 0.1%. The cloud software company Salesforce was the biggest drag on the Dow, while Hershey saw a more than 2% decrease in stock value following a downgrade from Morgan Stanley. However, Diamondback Energy rose 7% after announcing the acquisition of oil and gas producer Endeavor Energy Partners.

The S&P 500 recently closed above 5,000 for the first time in history and boasts more than a 5% increase since the start of the year. Despite the recent gains, Mark Haefele, UBS Global Wealth Management’s chief investment officer, stated that the stock rally has been well-supported. The week ahead will see 61 names in the S&P 500 reporting earnings, including companies such as Lyft, Instacart, and DoorDash. Additionally, the release of key economic data, such as the Consumer Price Index (CPI) and Producer Price Index (PPI), is expected later in the week.

The stock market’s resiliency is reflected in its continued surge, with the rally seen as well-supported, though eyes are also keen on the upcoming earning reports and inflation data. Factors such as the continuous good news being priced into U.S. stocks, as well as pending inflation data, are expected to influence future market activity. Despite the recent stall, further market rallies are anticipated in the near future before possibly reaching a brief halt while awaiting additional inflation data.

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