Market Recap – May 9th
On Tuesday’s trading day, more volatile price movements encapsulated investors’ sentiment as citizens wait for April’s CPI and Core CPI which release Wednesday morning. With moderate losses across the indices, several companies that reported earnings did see large gains or losses depending on their long-term outlook. For the main indices, the S&P 500 dropped 0.46%, the NASDAQ Composite went down 0.63%, and the Dow Jones fell 0.17%.
Also on the losing front was digital payment company PayPal, shares of which fell by 12.73% with growing uncertainty despite their beats on the top and bottom lines. One tech company that experienced massive gains was big data company Palantir, climbing 23.39% following first-quarter earnings beats and high expectations for a full year of profitability.
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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.