Mon, February 06, 2023

U.S. Stocks Staged a Late Comeback on May 2

Stocks and main findings

Without a doubt, it was a day full of challenges for U.S stocks. However, they staged a late comeback on Monday, with the S&P 500 and Nasdaq Composite hitting new lows for the year before closing up for the day.

The Nasdaq Composite gained 1.63% to close at 12,536.02. The S&P 500 advanced 0.57% to 4,155.38. Moreover, the Dow Jones Industrial Average added 84.29 points, or 0.26% to close at 33,061.50. It was down more than 500 points at its session lows.

The first trading session of the month came on the heels of a rough April for stocks. People should keep in mind that the Dow Jones Industrial Average and S&P 500 are coming off their worst month since March 2020, when the pandemic took hold. The Nasdaq Composite had its worst in a long time, more precisely since 2008. 

April was a tough month for the tech industry. We should not forget that tech was a particularly weak point in April. Nevertheless, the group led the rebound on Monday. Facebook’s parent company Meta as well as Netflix jumped 5.3% and 4.8% respectively. Microsoft and Google’s parent company Alphabet gained more than 2% each. 

Amazon and Apple closed up less than 1% after spending much of the session in negative territory.

Semiconductors and energy stocks were two areas of strength on the first day of the week. Intel gained 3.1% and Chevron added 2%, to support the Dow Jones Industrial Average.

Investors are monitoring the Federal Open Market Committee. Its decision will be released on Wednesday at 2 p.m ET. 

Stocks in Asia-Pacific 

Stocks in Asia-Pacific mostly fell on Tuesday, as Australia raised the interest rate for the first time in more than a decade.

In Australia, the S&P/ASX 200 dropped 0.42% to close at 7,316.20. The country’s currency last declined to $0.7090 after jumping to levels around $0.7121 following the hike.

Hong Kong’s Hang Seng index fell 0.1% in the last hour of trade. Shares of Alibaba earlier dropped more than 9%, before last pairing losses to decline 1.37%.

In South Korea, the Kospi declined 0.26% to 2,680.46. 



Shiba Inu: What’s Happening? Even if the overall cryptocurrency market on Thursday

Oil prices and interesting details

So far, sanctions on Russian crude oil have “completely failed,” and new

SEC Probe into WhatsApp Intensifies

As part of a broader investigation into Wall Street’s use of unofficial


Leave a Comment

Your email address will not be published.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

User Review
  • Support
  • Platform
  • Spreads
  • Trading Instument