Hey moomooers,

Good evening. Here is the latest Market Recap for you.

U.S. stocks jumped on Friday led by technology shares and reopening trades, as Wall Street rebounded for a second day from steep losses earlier this week.

How did major indexes fare?

• The $Dow Jones Industrial Average(.DJI.US)$climbed 360.68 points, or nearly 1.1%, to 34,382.13.

• The $S&P 500 index(.SPX.US)$gained 1.5% to 4,173.85.

• The $Nasdaq Composite Index(.IXIC.US)$, the relative underperformer for the week, snapped back by 2.3% to 13,429.98.

• The major averages experienced a roller-coaster week. The indexes have since Thursday rebounded from the steep sell-off, but they still posted modest losses for the week as inflation fears hit sentiment. The Dow and the S&P 500 fell more than 1% each this week, while tech stocks got hit especially hard, pulling the Nasdaq down over 2.3% for the week.
  

What drove the market?

• Tech stocks bounced back, recovery-related stocks jumped again

  Stocks advanced on Friday even after data showed consumer purchases slowed down last month. Tech stocks were the biggest outperformers Friday. $Tesla, Inc.(TSLA.US)$ gained more than 3%. $Facebook Inc(FB.US)$ jumped 3.5%, while $Alphabet Inc-CL C(GOOG.US)$ and $Microsoft Corp(MSFT.US)$ rose more than 2%. $Apple Inc(AAPL.US)$, $Amazon.Com Inc(AMZN.US)$ and $Netflix Inc(NFLX.US)$ also all climbed over 1%.

  Stocks most exposed to the ongoing recovery jumped again Friday after the Centers for Disease Control and Prevention eased guidelines, saying that in most settings fully vaccinated people don’t need to wear masks indoors or outdoors.

  $United Airlines Holdings Inc(UAL.US)$ and $American Airlines Group Inc(AAL.US)$ both climbed more than 5%. $Carnival Corp(CCL.US)$ and $Norwegian Cruise Line Holdings Ltd(NCLH.US)$ shares both popped more than 8%, while $Royal Caribbean Group(RCL.US)$ advanced more than 7%.

• This week's decline could be a good thing

This week's decline was a good thing. There needs to be a correction into the summer that is meaningful enough to eliminate the extreme intermediate-term overbought condition and excess optimism.

-Tony Dwyer, Chief market strategist at Canaccord Genuity

Which stocks were in focus?

• $Walt Disney Company(DIS.US)$— The media giant's share price sank 2.6% after it missed revenueand streaming subscriber estimates. Disney earnings of 79 cents per share, well above the 27 cents per share expected by Wall Street, according to Refinitiv. The company made $15.61 billion in revenue, missing an estimate of $15.87 billion. Disney missed on subscriber estimates for Disney+, coming in at 103.6 million paid subscribers. It was expected to post 109 million.

• $DoorDash, Inc.(DASH.US)$—  Shares of the food delivery company surged 22% after the firm boosted its outlook for 2021. DoorDash raised its annual forecast for order value to between $35 billion and $38 billion, up from a prior range of $30 billion to $33 billion. The company said that delivery drivers were in short supply, but consumer demand was stronger than expected.

• $Airbnb(ABNB.US)$—  Shares of the vacation rental company jumped 4% after the company reported better-than-expected quarterly revenue. The company reported first-quarter revenue of $887 million, topping a Refinitiv projection of $714 million. While Airbnb still reported a net loss for the quarter, it also showed year-over-year improvement in a key earnings metric. Wells Fargo upgraded the stock to overweight from equal weight following the earnings report.

• $Snowflake Inc(SNOW.US)$— The software company's shares popped 11.6% after Goldman Sachs upgradedit to buy from neutral, saying the world was still in the 「relatively early innings」 of the shift to the cloud, giving Snowflake significant upside.

• $Unity Software Inc(U.US)$— The tech stock jumped 8.1% after Oppenheimer upgraded the stock to outperform from perform. The investment firm said in a note that Unity's price was attractive after a sharp decline in recent months and that Apple's new privacy policy would not be a long-term issue for Unity's gaming business.

• $FISKER INC.(FSR.US)$— Fisker shares popped 5.5% to around $10.46 a share after it said it has signed agreements with Hon Hai Technology Group, also known as Foxconn, to develop a new breakthrough electric vehicle. Fisker said the new segment vehicle will be jointly developed and sold into international markets including North America, India and China.