Thursday, May 20, Market Recap

Good Evening,

Today, May 20…

The DJIA rose 0.55%
The S&P 500 was up 1.06%
The Nasdaq Composite added 1.77%

Tech led the market today.

General Market Review

Economic Data

Unemployment claims for last week came to 444,000, while economists expected there to be a total of 452,000 claims.

Energy

Oil prices fell for the third day in a row after negotiations to bring Iran back into the nuclear accord that was previously cancelled by Trump caused an influx of global supply.

Tech

Big tech was up today due to a drop in the 10-year Treasury. Investors believe that the Fed will announce plans to lower monthly bond purchases soon. Due to a recovery in bitcoin prices, Tesla and other chip stocks rise. Tesla added 4.1%.

Charts by TradingView