The Dow Jones industrial average closed higher on Wednesday stretching
its winning streak to six straight sessions as investors kept
betting on supportive us monetary policy. The other Wall
Street benchmarks cooled the touch as momentum stalled and us
treasury yields rose on the day of a 10 year
notes auction. The Dow climbed 4/10 of 1%.
The S and P 500 was flat and the NASDAQ
fell 2/10. The day's mixed session doesn't come 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, is
the fed going to raise or lower? The federal
funds rate? Companies continue to report quarterly results including
Uber whose stock dropped nearly 6% after it posted surprise
quarterly loss and issued a downbeat forecast while rival Lyft
jumped 7% after projecting higher than expected gross bookings and
a core profit for the current quarter. And finally
, Tesla slipped 2% following a Reuters report that us
prosecutors were examining whether the company committed securities or wire
fraud by misleading investors and consumers about its electric vehicles
, self driving capabilities.