Monday, 17 May 2021: US equity markets ended a tough week punctuated by inflation concerns on a positive note
May 16, 2021 ·
8m 6s
![Monday, 17 May 2021: US equity markets ended a tough week punctuated by inflation concerns on a positive note](https://d3wo5wojvuv7l.cloudfront.net/t_square_limited_480/images.spreaker.com/original/cd28525abfd602a496c37176cbece14f.jpg)
Download and listen anywhere
Download your favorite episodes and enjoy them, wherever you are! Sign up or log in now to access offline listening.
Description
US equity markets ended a tough week punctuated by inflation concerns on a positive note, with investors shrugging off a weak April retail sales report - Dow gained +361-points or...
show more
US equity markets ended a tough week punctuated by inflation concerns on a positive note, with investors shrugging off a weak April retail sales report - Dow gained +361-points or +1.06% . The broader S&P500 +1.49%, with ~89% of index’s components advancing. Energy (up +3.16%) and Information Technology (+2.12%) led all eleven primary sectors higher. Stocks most exposed to the ongoing recovery traded strongly, buoyed by the Centers for Disease Control and Prevention updating its guidance around masks for people who are fully vaccinated late last Thursday (13 May), saying they no longer need to wear a mask or socially distance "in any setting" except when required by laws or rules. United Airlines Holdings Inc (up +5.44%) and American Airlines Group Inc (+5.61%) both climbed more than 5%, while cruise operators Carnival Corp (up +8.28%) and Norwegian Cruise Line Holdings Ltd (+8.09%) both jumped over >8%. CNBC reported over the weekend that AT&T Inc is in advanced talks to merge its content unit WarnerMedia with rival Discovery in a deal to create a media giant with an enterprise value of US$150B that will strengthen the combined company against rival media giants Netflix Inc and Walt Disney Co (down -2.60%), citing people familiar with the matter. The technology-centric Nasdaq gained +2.32%. Facebook Inc rose +3.5%, while Google parent Alphabet Inc (up +2.21%) and Microsoft Corp (+2.11%) both climbed over >2%. Apple Inc (up +1.98%), Amazon.com Inc (+1.94%) and Netflix Inc (+1.38%) all gained over >1%. The small capitalisation Russell 2000 gained +2.47%.
show less
Information
Author | Morgans Financial Limited |
Organization | Morgans Financial Limited |
Website | - |
Tags |
Copyright 2024 - Spreaker Inc. an iHeartMedia Company