Market Recap – May 31st
U.S markets balanced on the edge yesterday, as investors closed out a rocky month, which was buried in inflationary and recessionary fears. All indexes fell yesterday, with The Dow Jones Industrial Average losing about 140 points, or 0.4%. The S&P 500 lost 0.3%, and the Nasdaq Composite also lost 0.01%, after being up 0.5% at its highest and down nearly 1.6% at its lowest. The roller coaster that was May hopefully stabilizes in June. Compare to one month ago the S&P 500 and DOW are both marginally higher, while the Nasdaq is down roughly 2%.
Today we’re watching Sanofi and Nio. Sanofi shares fell 3% after their trial for the over the counter version of the drug “Cialis” was put on hold by the FDA. Nio’s price increased 5% amid a prediction from J.P Morgan that the stock could rebound within the next 15 days.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.