Market Recap – May 13th
Stocks saw a boost last Friday, with losses from days before and the previous week being trimmed. More importantly, the S&P 500 was stopped from entering bear market territory. Looking at specific indexes, The Dow Jones Industrial Average rose 466.36 points to 32,196.66, or 1.47%. The S&P 500 gained 2.39% to close at 4,023.89 and the Nasdaq Composite jumped 3.82% to 11,805. On a broader timeframe, the S&P 500 had its best day since May 4th, and the Nasdaq saw its biggest one-day gain since November 2020. Even with these gains, all indexes saw losses for the week. Looking at two specific stocks, we’re watching Ford and Carnival Corp – both of which saw major gains on Friday. Ford closed up almost 9% on the day and Carnival closed up almost 8% on the day.
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.