Market Recap – May 4th 💰

Market Recap – May 4th

On Thursday’s trading day, markets started lower as investors continue to digest the Fed’s interest rate hike and final comments. All focus has stepped aside from tech’s earnings as several regional bank stocks continue to slide and investors price in their winners and losers in the industry. For the broad indices, S&P 500 dropped 0.72%, the NASDAQ Composite went down 0.49%, and the Dow Jones fell 0.86%.

One of the biggest individual winners of the day was the e-commerce platform Shopify, shares of which grew 23.84% following a positive earnings report and a supposed sale of their logistics division. On the losing end, however, was media and entertainment company Paramount Global which fell short of earnings expectations and reduced its dividends for the first time since 2009.

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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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