Market Recap – May 11th 💰

Market Recap – May11th

On Thursday’s trading day, markets tested lows but recovered before the bell as investors worried over the stability of the financial industry. Positive sentiment from producer-side inflation data and weekly jobless claims added resistance to lower price movements, but growing fear of a recession lingers behind the minds of investors and citizens. For the main indices, the S&P 500 dropped 0.17%, the NASDAQ Composite went up 0.18%, and the Dow Jones fell 0.66%.

Despite the conflicting sentiment in broader indices, one large loser of the day was Beyond Meat, shares of which fell 18.27% after plans to sell $200 million of common stock to increase their working capital. Another company to post losses at the bell was fitness platform Peloton, which declined by 8.9% after a mass recall of bikes that pose health concerns.

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