• Home
  • Privacy & Policy
  • Contact Us
Saturday, May 28, 2022
  • Login
androidnetwork.net
  • Home
  • Business
  • Crypto News
  • Finance
  • Health
  • Politics
  • Product
  • Sports
  • Stock
  • Tech
  • Travel
No Result
View All Result
  • Home
  • Business
  • Crypto News
  • Finance
  • Health
  • Politics
  • Product
  • Sports
  • Stock
  • Tech
  • Travel
No Result
View All Result
androidnetwork.net
No Result
View All Result
Home Finance

S&P 500 ends Friday flat, posts its first back-to-back weekly losses since February

admin by admin
May 22, 2021
in Finance
0
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter


The S&P 500 erased earlier gains and finished Friday near the flatline as the tech sector came under pressure again amid another drop in bitcoin price.

The broad equity benchmark dipped less than 0.1% to 4,155.86 after rising as much as 0.7% earlier in the day. The Dow Jones Industrial Average climbed 123.69 points, or 0.4%, to 34,207.84, thanks to a jump in Boeing shares. The Nasdaq Composite dipped 0.5% to 13,470.99.

For the week, the S&P 500 fell 0.4% to register its first back-to-back weekly losses since February. The blue-chip Dow dipped 0.5% on the week, while the Nasdaq Composite eked out a 0.3% gain this week, breaking a four-week losing streak.

Bitcoin, which shook markets earlier in the week with a 30% collapse, dropped again on Friday after Chinese Vice Premier Liu He warned about bitcoin mining and trading behavior, saying tighter regulation is needed to protect the financial system. The price last traded 10% lower to around $36,000. Crypto-linked shares including Coinbase and MicroStrategy turned red on the headline and ended the day 3.9% and 4.7% lower, respectively. Tesla fell 1%.

Boeing popped 3.2% after Reuters reported the aircraft manufacturer discussed increasing 737 MAX output to as many as 42 jets per month by late 2022.

Helping sentiment Friday was a gauge for U.S. manufacturing activity that surged to a record high this month. The IHS Markit Flash U.S. Manufacturing Purchasing Managers’ Index jumped to an all-time high of 61.5 in May from 60.5 in April. Economists polled by Dow Jones had expected the index to hold steady.

“The first major economic data point for the month of May was very strong,” Adam Crisafulli, founder of Vital Knowledge, said in a note. “We already know the Fed is thinking about tapering and this release may cause them to think about it a bit harder, but stocks should be fine so long as the Fed doesn’t signal a taper before Nov.”

Shares of Nvidia jumped 2.6% after the chip giant announced a 4-for-1 stock split. The shares increased even though the split adds no actual value to the stock.

Ford, which said it has 20,000 reservations for its new electric F-150 pickup, gained 6.7%. Home Depot shares ended the day close to flat after the retailer announced a new $20 billion share buyback program.

In another sign of market confidence, new IPO Oatly, which jumped 18% on Thursday in its Nasdaq debut, climbed more than 11% on Friday.

Friday’s moves followed a comeback day on Wall Street with the Dow gaining 186 points and the S&P 500 and Nasdaq composite ending the day 1.06% and 1.77% higher, respectively. Investors cheered a new pandemic low in jobless claims Thursday.

Thursday’s “jobless claims improvement furthers our view the disappointing April jobs report was likely a blip rather than a sign of deceleration, and we anticipate meaningful labor market improvement in coming months,” said Scott Ruesterholz, a portfolio manager at Insight Investment.

Tags: backtobackBitcoin/USD Coin MetricsBoeing CoBreaking News: Marketsbusiness newsDow Jones US Soft Drinks IndexendsFebruaryflatFridayHome Depot IncInvestment strategylossesMarketsPostsStock marketsTesla IncWall StreetWeekly
Previous Post

Akzo Nobel India Q4 profit rises 37%

Next Post

Germany suspends travel from the U.K. amid concerns of a variant’s spread.

admin

admin

Next Post

Germany suspends travel from the U.K. amid concerns of a variant’s spread.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected test

  • 111 Followers
  • 23.5k Followers
  • 99 Subscribers
ADVERTISEMENT
  • Trending
  • Comments
  • Latest

Outdoor Products Deluxe Duffle

May 8, 2021

Pandora, the world’s largest jewelry maker, moves from mined to lab-created diamonds.

May 4, 2021

With Covid Vaccines for Teens and Kids, Timing Matters

May 4, 2021

Boeing posts a $1.5 billion loss and weaker revenue amid higher costs and delays.

April 27, 2022

Yellen Looks to Get Global Tax Deal Back on Track During Europe Trip

0

Janet Yellen says interest rates might need to rise to keep economy from overheating.

0

Pandora, the world’s largest jewelry maker, moves from mined to lab-created diamonds.

0

Twitter to acquire Scroll, a subscription ad-blocking service.

0

Yellen Looks to Get Global Tax Deal Back on Track During Europe Trip

May 16, 2022

Shares of Shree Cements fall as Nifty gains

May 16, 2022

Comic or Graphic, Shows About Abortion Surface a Stark Divide

May 16, 2022

Cortes Is Brilliant Yet Again as Yankees Top White Sox

May 16, 2022

Recent News

Yellen Looks to Get Global Tax Deal Back on Track During Europe Trip

May 16, 2022

Shares of Shree Cements fall as Nifty gains

May 16, 2022

Comic or Graphic, Shows About Abortion Surface a Stark Divide

May 16, 2022

Cortes Is Brilliant Yet Again as Yankees Top White Sox

May 16, 2022
  • Home
  • Privacy & Policy
  • Contact Us
Call us: +xxxxxx xxx

© news - All Rights Are Reserved

No Result
View All Result
  • Home
  • Business
  • Crypto News
  • Finance
  • Health
  • Politics
  • Product
  • Sports
  • Stock
  • Tech
  • Travel

© news - All Rights Are Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin(BTC)$29,042.000.52%
  • ethereumEthereum(ETH)$1,787.231.84%
  • tetherTether(USDT)$1.000.04%
  • usd-coinUSD Coin(USDC)$1.000.20%
  • binancecoinBNB(BNB)$308.521.60%
  • rippleXRP(XRP)$0.385443-0.47%
  • Binance USDBinance USD(BUSD)$1.000.05%
  • cardanoCardano(ADA)$0.4639920.31%
  • SolanaSolana(SOL)$44.286.31%
  • dogecoinDogecoin(DOGE)$0.081596-1.20%
  • polkadotPolkadot(DOT)$9.633.15%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$29,036.000.48%
  • tronTRON(TRX)$0.0810580.64%
  • Lido Staked EtherLido Staked Ether(STETH)$1,747.842.05%
  • AvalancheAvalanche(AVAX)$24.828.30%
  • VectoriumVectorium(VECT)$425.81-3.49%
  • daiDai(DAI)$1.00-0.02%
  • Shiba InuShiba Inu(SHIB)$0.0000112.03%
  • leo-tokenLEO Token(LEO)$5.064.05%
  • TerraTerra(LUNA)$6.60-53.85%
  • litecoinLitecoin(LTC)$62.740.71%
  • CronosCronos(CRO)$0.1707830.91%
  • Bitcoin Cash ABCBitcoin Cash ABC(BCHA)$215.86-1.76%
  • matic-networkPolygon(MATIC)$0.58-0.57%
  • FTX TokenFTX Token(FTT)$27.091.67%
  • NEAR ProtocolNEAR Protocol(NEAR)$4.921.69%
  • bitcoin-cashBitcoin Cash(BCH)$178.431.11%
  • moneroMonero(XMR)$175.40-4.39%
  • ethereum-classicEthereum Classic(ETC)$22.79-0.09%
  • stellarStellar(XLM)$0.1224920.22%
  • chainlinkChainlink(LINK)$6.440.76%
  • OKBOKB(OKB)$11.511.15%
  • ChainChain(XCN)$0.172402-2.81%
  • cosmosCosmos Hub(ATOM)$9.39-0.53%
  • algorandAlgorand(ALGO)$0.362113-0.88%
  • FlowFlow(FLOW)$2.40-0.51%
  • UniswapUniswap(UNI)$4.954.27%
  • BitTorrentBitTorrent(BTT)$0.003080-4.13%
  • vechainVeChain(VET)$0.029434-0.18%
  • Theta FuelTheta Fuel(TFUEL)$0.055789-3.30%
  • HederaHedera(HBAR)$0.088780-0.43%
  • ApeCoinApeCoin(APE)$6.220.77%
  • tezosTezos(XTZ)$1.944.89%
  • Internet ComputerInternet Computer(ICP)$7.182.07%
  • The SandboxThe Sandbox(SAND)$1.30-1.85%
  • filecoinFilecoin(FIL)$7.482.03%
  • ElrondElrond(EGLD)$69.311.47%
  • kucoin-sharesKuCoin Token(KCS)$15.310.52%
  • Axie InfinityAxie Infinity(AXS)$18.51-0.38%
  • decentralandDecentraland(MANA)$0.950.58%