Market Recap – August 10th 💰

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Market Recap – August 10th

The inflation report was exactly what the markets needed to turn around, marking the first positive day since Monday, albeit morning gains were given up. The indices opened  big in the morning before conceding most of the gains as the day went on, but investor optimism is higher than usual now. The bell rang with the S&P 500 up 0.03%, the Dow Jones up 0.15%, and the NASDAQ up 0.12%.

Yesterday’s winner was one of the largest we’ve seen in a mile; Capri rose by 55.74% to $53.90 after being acquired by Tapestry, another luxury goods company in an $8.5 billion deal that is set to shake up the industry. On the negative side was everyone’s favorite donut shop, Krispy Kreme, which fell by 13.68% to $12.43 after no changes in its guidance and mixed financial numbers, with net income ending up lower than year-ago levels.

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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.

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