STORY: The Dow Jones Industrial Average closed higher on Wednesday, stretching its winning streak to six straight sessions, as investors kept betting on supportive U.S. monetary policy.
The other Wall Street benchmarks cooled a touch as momentum stalled and U.S. Treasury yields rose on the day of a 10-year notes auction.
The Dow climbed four tenths of one percent, the S&P 500 was flat, and the Nasdaq fell two tenths.
The day’s mixed session doesn’t come as a surprise to Sanders Morris Chairman George Ball.
“The market at this moment is looking for some form of leadership, either fresh leadership, new leadership or some form of of key signal beyond well as the Fed going to raise or lower the federal funds rate.”
Companies continue to report quarterly results including Uber whose stock dropped nearly six percent after it posted a surprise quarterly loss and issued a downbeat forecast.
While rival Lyft jumped seven percent after projecting higher-than-expected gross bookings and a core profit for the current quarter.
And finally Tesla slipped two percent following a Reuters report that U.S. prosecutors were examining whether the company committed securities or wire fraud by misleading investors and consumers about its electric vehicles’ self-driving capabilities.
Read More: Dow ends higher for 6th straight session