Tuesday, May 18, Market Recap

Good Evening,

Today, May 14…

The DJIA fell 0.78%
The S&P 500 was down 0.89%
The Nasdaq Composite slipped 0.56%

Tech led the market today.

General Market Review

Tech

Apple fell 1.12% after the New York Times reported the company had compromised security by using servers run by Chinese government owned companies to store Chinese consumer data. Apple denied these claims.

Consumer Staples

Walmart reported better-than-expected first quarter results and rose over 2%. The company had strong grocery and e-commerce sales; it has positive guidance for 2021.

Energy

Oil prices fell today over fears on Iranian oil supply. These fears are due to reports of a nuclear deal being finalized on Wednesday. Last week, crude inventories rose by 620,000 barrels, compared to expectations of inventories rising by 1.6 million barrels.

Charts by TradingView