Market Recap – May 10th 💰

Market Recap – May10th

On Wednesday’s trading day, markets started lower as investors digested the newly released consumer price index for the month of April. With inflation cooling as expected, markets hoped for a larger decrease, especially when compared to the month prior, leaving indices split between some moderate losses and gains. For the main indices, the S&P 500 grew 0.45%, the NASDAQ Composite went down 0.63%, and the Dow Jones just fell by 0.09%.

The stock that notably saw large decreases was Carl Icahn’s conglomerate Icahn Enterprises, plummeting 15.14% following a new regulatory filing and Hindenburg Research’s public short position. In the green, popular video game company Roblox added 7.41% to their market cap after successful beats in their revenues and daily active users.

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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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