Market Recap – May 3rd 💰

Market Recap – May 3rd

On Wednesday’s trading day, markets showed little to no price movement at the start of the day. However, after the news of an interest rate hike and the speech by Jerome Powell, markets faltered at the bell. For the broad indices, the S&P 500 dropped 0.70%, the NASDAQ Composite went down 0.46%, and the Dow Jones fell 0.80%.

For individual stocks, Advanced Micro Devices saw large losses throughout the trading day, with its shares falling 9.22% following its poor earnings report on Tuesday. In the pharmaceutical space, shares of Eli Lilly jumped 6.68% after providing positive results to slowing Alzheimer’s disease from its drug named Donanemab.

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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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