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NASDAQ Composite (^IXIC)
| Previous close | 15,840.96 |
| Open | 16,147.50 |
| Volume |
| Day's range | 16,068.34 - 16,204.71 |
| 52-week range | 12,065.72 - 16,538.86 |
| Avg. volume | 5,177,715,000 |
- Yahoo Finance Video
What Biden Admin's new EV tax credit means for automakers
The Biden Administration has officially finalized its tax credit rules for electric vehicles (EVs). One of the provisions outlined in the new rules is a restriction on sourcing critical minerals used in EV batteries from "foreign entities of concern," meaning countries like China. Yahoo Finance's Pras Subramanian sheds light on the implications of this rule for automakers moving forward. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance. This post was written by Angel Smith
- Yahoo Finance Video
Jobs data sent rate hike concerns 'out the window': Yardeni
The April jobs report came in weaker-than-expected, with the US economy adding only 175,000 jobs during the month. Joining Market Domination to dissect the implications of this data is Yardeni Research President Ed Yardeni, who deemed the report "a decent report." Alongside the employment figures, Yardeni highlights the ISM Services PMI as a notable data point that "caught the market's attention." He says that the overall report has effectively taken the possibility of a rate hike in 2024 "out the window," as markets now anticipate the potential for a rate cut to materialize once again between "now and the end of the year." Yardeni remains optimistic about the Federal Reserve's ability to achieve its 2% inflation target by the end of 2024, stating, "I think Powell has been dead on right," about inflation. As far as broader inflation is concerned, Yardeni tells Yahoo Finance: "The overall inflation rate remains on a moderating trend when you look at it year over year." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Angel Smith
- Yahoo Finance Video
These three things released bond market 'pressure': Strategist
Stocks are on the rise as bond yields slump following the April jobs report. Morgan Stanley Investment Management Co-Head of Broad Markets Fixed Income Vishal Khanduja joins Morning Brief to break down what the weaker-than-expected report means for the economy. April saw an unexpected jump in unemployment as hiring and wage growth both slowed. Khanduja notes that following the Fed's decision to leave rates unchanged, the bond market is at a point "where it releases a lot of that pressure that was building up." Khanduja says there were three things that happened this week to help relieve that pressure: the US Treasury's quarterly refunding announcement, a more "dovish FOMC," and the cooler April employment report. He tells Brad Smith and Akiko Fujita that two to three more reports like April's could guide the Fed's decision to move toward cuts. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Melanie Riehl
