Market Recap – May 15th
To start the new week, Monday’s trading day was encapsulated by continued slow price action as the newest fear over the U.S. economy is the national debt limit. Poised to be reached later this month, investors gnash their teeth as another day goes by with little progress made on raising the debt ceiling. For the broad indices, the S&P 500 grew by 0.30%, the NASDAQ Composite went up by 0.66%, and the Dow Jones rose by 0.14%.
Popular fast food chain Shake Shack saw one of the biggest increases of the day with its shares up 7.81% following activist investor Engaged Capital’s strides to transform the company. Also in the green was American computer drive manufacturer Western Digital which advanced 11.26% with the release of merger discussions with Japan’s Kioxa Holdings.
Want to learn how to invest? Download the Invstr app, where you can play Fantasy Finance and manage a virtual investment portfolio, or open a brokerage account and invest for real. Take our interactive investing course on Invstr Academy and become a better investor today!
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.