Market Recap – May 8th
On Monday’s trading day, uneventful circumstances left markets stagnant, with most investors waiting to see April’s CPI and PPI releasing this week. Aside from the border markets, most volatility for the day was seen in bank stocks and companies releasing their earnings. For the main indices, the S&P 500 rose 0.05%, the NASDAQ Composite went up 0.18%, and the Dow Jones fell 0.17%.
Despite the steady state of the indices, one of the biggest losers of the day was Catalent, which saw its shares plunge 25.74% following their delay of earnings and pre-emptive cuts to their guidance. Another large decline seen throughout the trading day was food production company Tyson following their unexpected losses from lower-than-anticipated revenues.
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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.