Editor/ Eric
Hey Moomooers,
Good evening. Here is the latest Market Recap for you.
The Dow Jones Industrial Average on Thursday closed above the psychologically significant 31,000 milestone, marking the first such round-number milestone for the benchmark since November, and its fastest move above a 1,000-point marker in about two years.
How did major indexes fare?
The Nasdaq Composite popped 2.6% to close at 13,067.48 while the Dow Jones Industrial Average advanced 211.73 points to end its trading day at 31,041.13. The S&P 500 gained 1.5% to close at 3,803.79.
Thursday's gains market the Nasdaq’s first-ever close above 13,000 and was also the first time the Dow and S&P 500 finished a session above 31,000 and 3,800, respectively.
Source: moomoo
What drove the market?
Senate Democratic Leader Chuck Schumer and House Speaker Nancy Pelosi called for President Donald Trump’s removal.
Both Democrats said the president incited an 「insurrection」 against the country. Schumer said that if Vice President Mike Pence and the Cabinet do not move to invoke the 25th Amendment, Congress should reconvene to impeach Trump.
Pelosi said Congress 「may be prepared」 to impeach him if executive branch officials do not act.
Credit Suisse U.S. equity strategist Jonathan Golub has raised his 2021 year-end outlook for the S&P 500 index and believes that those caviling about lofty equity-market valuations are focusing on the wrong metrics.
Which stocks were in focus?
Here are the top movers of the market on Thursday:
Source: CNBC
$Micron Technology Inc(MU.US)$— Shares of the semiconductor company rose 1.5% after Micron reported better-than-expected results for its fiscal quarter. The company beat analyst projections on the top and bottom lines, with adjusted earnings per share of 78 cents and revenue of $5.77 billion. Analysts surveyed by Refinitiv were expecting 71 cents per share and $5.73 billion in revenue.
$Boeing Co(BA.US)$— Shares of the aerospace giant dipped less than 1% following news that the Justice Department fined the company more than $2.5 billionand charged Boeing with conspiracy related to the 737 Max crashes.
$Sarepta Therapeutics Inc(SRPT.US)$— Shares of therapeutics company fell by more than 50% after the top-line results for a study of Sarepta’s investigational gene therapy did not show results different from the placebo group that were statistically significant for its primary goal. The therapy is being developed for patients with Duchenne muscular dystrophy.
$Tesla, Inc.(TSLA.US)$— Tesla Inc. stock rallied toward a record Thursday on the heels of an upgrade by analysts at RBC Capital and heightened hopes for EV makers.
Source: MarketWatch, CNBC, Bloomberg
Comment(0)
Reason For Report