Market Recap – May 18th
On Thursday’s trading day, short-term relief from debt ceiling optimism fueled further gains in the markets, with all three major indices in the green with moderate gains. This was the second straight day filled with positive sentiment from the debt ceiling talks, however, some believe that investors should focus on the long-term implications of high-interest rates. For the main indices, the S&P 500 rose 0.94%, the NASDAQ Composite went up 1.51%, and the Dow Jones grew by 0.34%.
Prominent FAANG company Netflix led the movement for tech, jumping 9.22% after a presentation to advertisers and positive subscriber growth for their new ad-supported tier. Another retailer in the news was Bath & Body Works, shares of which rose 10.73% after reporting earnings that surpassed Wall Street’s estimates.
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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.