Wednesday, May 26, Market Recap

Good Evening,

Today, May 20…

The DJIA rose 0.03%
The S&P 500 was up 0.19%
The Nasdaq Composite added 0.59

Tech led the market today.

General Market Review

Consumer Discretionary

Dicks Sporting Goods gained 16.40% after topping first quarter estimates. Kids are beginning to return to team sports boosting Dick’s sales and raising guidance for 2021.

Tech

Amazon made a deal to buy MGM Studios for $8.45 billion, making it Amazon’s second largest acquisition. The acquisition is in hopes of Amazon Studios boosting their catalog of films and shows with MGM. Amazon was up 0.19%.

Energy

After crude inventories fell 1.662 million barrels compared to 1.05 million barrels last week, oil prices rebounded. Investors are optimistic for oil demand this summer. Chevron rose 0.30% today.

Charts by TradingView