Freshpet Jumps More Than 10%

Spirit Airlines slides 9.7%
By Newser Editors and Wire Services
Posted May 6, 2024 3:37 PM CDT
Wall Street Adds to Last Week's Gains
Traders work on the floor at the New York Stock Exchange.   (AP Photo/Seth Wenig)

US stocks closed higher Monday on Wall Street, adding to last week's gains.

  • The S&P 500 rose 52.95 points, or 1%, to 5,180.74.
  • The Dow Jones Industrial Average rose 176.59 points, or 0.5%, to 38,852.27.
  • The Nasdaq composite rose 192.92 points, or 1.2%, to 16,349.25.
Treasury yields held steady in the bond market, per the AP, following last week's big moves on hopes that a cooling job market could get the Federal Reserve to cut interest rates this year.

Berkshire Hathaway added 1% after Warren Buffett's company reported its latest quarterly results over the weekend. Freshpet jumped 10.5% after reporting better results than expected in large part because it sold 30% more food for cats and dogs. They helped to offset an 9.7% slide for Spirit Airlines, which reported a slightly worse loss than expected. The carrier said it's facing increased competition in many of its markets, particularly between the US and Latin America. Apple slipped 0.9% after Buffett pared Berkshire Hathaway's stake in the tech giant.

This upcoming week won't include such highly anticipated events as last week's Fed meeting or monthly jobs report. This week's highlights instead could come from a number of speeches by Fed officials or from Friday's preliminary report on consumer sentiment. The bulk of companies in the S&P 500 have also already reported their results for the first three months of the year, with more than three-quarters of them topping profit expectations, according to FactSet. But several more big names are still on the way this week, including the Walt Disney Co. and Uber Technologies.

(More stock market stories.)

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