4 Things in the Markets to Know Right Now
- The Dow Jones Industrial Average closed higher for the sixth consecutive day.
- U.S. crude oil prices rose 22 cents on Thursday, settling at $71.36 a barrel.
- Roku's (ROKU) Chief Financial Officer tells TheStreet's Executive Editor Brian Sozzi strong growth in the streaming industry will be the norm. Roku's earnings beat after the close on Wednesday.
- The forward price-to-earnings multiple of the S&P 500 has dropped from a high of 18.6 on January 23 to a low of 15.9 on May 3, according to Yardeni Research.
U.S. stocks showed strength on Thursday, building on the modest gains from Wednesday's session.
The Dow Jones Industrial Average
Action Alerts PLUS holding Comcast Corp. (CMCSA) shares rose 2.6% after the Financial Times reported that it may need to include a $2.5 billion "break fee" in any new bid for the media assets of Rupert Murdoch's 21 Century Fox (FOX) that are currently being offered to Walt Disney Co. (DIS) .
Tesla (TSLA) shares declined 0.60% following news that the U.S. National Transportation Safety Board will investigate the crash of a Tesla Model S that killed two teenagers, and injured a third, in Fort Lauderdale earlier this week. The NTSB said the probe will be focused on "emergency response in relation to the electric vehicle battery fire, including fire department activities and towing operations."
Chevron (CVX) and ExxonMobil (XOM) edged higher, by 0.08% and 2.25%, respectively, thanks to a sustained surge in global crude prices. Israel and Iran traded rocket fire overnight near the Golan Heights on the Syrian border in some of the most intense fighting in the region in several years. The Israel Defense Forces said it intercepted several rockets fired from Syria, which it said were launched by the elite Quds Force division of the Iranian Revolutionary Guard.
White House Press Secretary Sarah Sanders told Fox News that the clashes were a "further demonstration that the Iranian regime cannot be trusted and another good reminder that the president made the right decision to get out of the Iran deal." Russia's Deputy Foreign Minister, Mikhail Bogdanov, told the TASS news agency that the Gulf situation was "very alarming. It causes concern. There should be work to de-escalate the tensions."