Market Recap – May 12th
On Friday’s trading day, markets started higher as investors priced in moderately cooling inflation but worries over the potentially imminent fall of more midsized banks turned gains into losses. Aside from companies reporting earnings, markets generally showed little price movement as they have in recent weeks, signaling mass uncertainty. The S&P 500 dropped 0.16%, the NASDAQ Composite went down 0.35%, and the Dow Jones fell 0.03%.
Despite the indices’ limited price movement, energy company First Solar announced its acquisition of Evolar AB, sending its shares to climb by 26.48%. On the losing side, shares of online brokerage Robinhood fell by 9.43% following a reversal from their previous day’s gains from their earnings beats; with the quarter’s better-than-expected top and bottom-line performances, Morgan Stanley believed there to be no significant change to their overall financials.
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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.