• 114
  • 52
  • 收藏

Dow rises more than 100 points to start the week, tech shares and reopening trades gain

Tiger Newspress2021-05-24

U.S. stocks climbed on Monday as the technology sector and shares benefitting the most from the economic reopening led the advance.

The Dow Jones Industrial Average rose 140 points. The S&P 500 gained 0.6%, while the Nasdaq Composite popped 0.7%.

Tech stocks gained to shake off another rough period for bitcoin over the weekend as thecryptocurrency bounced Monday. The cryptocurrencydropped under $32,000 on Sunday, only to rebound 16% above $38,000 on Monday. On Wednesday, bitcoin prices tumbled to just above $30,000, dropping to the lowest level since late January.

Shares of Tesla, a big holder of the crypto, gained 0.5% in premarket trading despite the bitcoin volatility. Coinbase added 2% in premarket trading as bitcoin stabilized Monday and as Goldmanstarted the crypto-exchange with a buy rating.

Stocks benefiting from the economic reopening gained in premarket trading as well. Share of Gap, Carnival and United Airlines were higher. Norwegian Cruise Line rose 1% in premarket after the cruise line operator announced plans to return cruising in the U.S. this summer.

“We continue to see incremental data points that strengthen our view that when equities break out of this range, the next move is a substantial rise higher,” wrote Tom Lee, head of research at Fundstrat Global Advisors. Lee cited data showing a collapse in Covid-19 cases.

Stocks have stalled lately. The previous week saw the Dow post its fourth negative week in five, but the losses were minor. The Dow dipped just 0.5% on the week, while the S&P lost just 0.4%. The Nasdaq Composite, meanwhile, gained 0.31% last week, snapping a four-week losing streak.

Despite last week’s “collapse in crypto markets and rather hawkish FOMC minutes, another equity dip was bought by investors,” JPMorgan wrote in a note to clients. “This ‘buy the dip’ mentality has been remarkably strong this year and has provided a support preventing any small correction in equities and risk markets from becoming more extended,” the firm added.

The Federal Reserve hinted at its April meeting that easy monetary policies could be reconsidered if the economy continues to show signs of rapid improvement, according to minutes from the meeting released last week.

Heading into the last full trading week of the month, the Dow is on track to post a gain for May, while the S&P is on track to snap a three-month winning streak. The Nasdaq Composite, which is down more than 3% for the month, is on track to snap its longest monthly winning streak since Jan. 2018, with its first negative month in seven.

After outperforming year-to-date, small caps have faced recent weakness, and the Russell 2000 is on track to snap a seven-month winning streak.

“We think the choppy/sideways trend will continue for a bit longer, and the market will experience sell-off scares along the way,” noted Adam Crisafulli, founder of Vital Knowledge. “While stocks are absorbing a lot of changes well so far, all the inflection points still have longer to play out.”

免责声明:本文观点仅代表作者个人观点,不构成本平台的投资建议,本平台不对文章信息准确性、完整性和及时性做出任何保证,亦不对因使用或信赖文章信息引发的任何损失承担责任。

举报

评论52

  • Dankel
    ·2021-05-25
    Good start for the week, likes and comment pls 
    回复
    举报
    收起
    • Dankel
      Nice
      2021-06-02
      回复
      举报
    • Huathk
      Gd
      2021-05-25
      回复
      举报
  • Ekraaj
    ·2021-05-25
    Great news
    回复
    举报
  • Dawang
    ·2021-05-25
    Fuel for another run?
    回复
    举报
  • 121711b8
    ·2021-05-25
    nice
    回复
    举报
  • AnT
    ·2021-05-25
    Alright... Higher highs and higher lows. All set to go... Please like and comment. Thank you
    回复
    举报
    收起
    • AnT
      alright
      2021-05-25
      回复
      举报
  • darrentanjm
    ·2021-05-24
    Need another healthy correction 
    回复
    举报
  • starbu
    ·2021-05-24
    👍
    回复
    举报
  • syleo
    ·2021-05-24
    [比心] 
    回复
    举报
  • Catherinn
    ·2021-05-24
    Nice!
    回复
    举报
  • kittydana
    ·2021-05-24
    finally. time to see them go up up up! like and comment if you agree!
    回复
    举报
    收起
    • ynngy
      ok la no one comment i comment
      2021-05-26
      回复
      举报
  • YKYK14
    ·2021-05-24
    Keep going
    回复
    举报
    收起
    • VenusOng
      ya up up
      2021-05-24
      回复
      举报
    • YKYK14
      ya princess
      2021-05-24
      回复
      举报
    • VenusOng
      hi
      2021-05-25
      回复
      举报
    查看更多 2 条评论
  • Slee49
    ·2021-05-24
    Good news, so buy
    回复
    举报
  • 来人
    ·2021-05-24
    Up up up [开心] 
    回复
    举报
  • Unicorn82
    ·2021-05-24
    Keep going!
    回复
    举报
    收起
    • SSim
      Ok
      2021-05-24
      回复
      举报
  • RPRP
    ·2021-05-24
    Please like and comment. Thanks.
    回复
    举报
    收起
  • Ai_Ling
    ·2021-05-24
    Up up up!
    回复
    举报
  • Kimobin
    ·2021-05-24
    Yeah[开心] 
    回复
    举报
  • Kel9670ong
    ·2021-05-24
    Nice
    回复
    举报
    收起
    • BruceLKH
      yes
      2021-05-24
      回复
      举报
  • Ozalis
    ·2021-05-24
    Like and comment
    回复
    举报
    收起
  • Deonc
    ·2021-05-24
    #gainsorloss
    回复
    举报
 
 
 
 

热议股票

 
 
 
 
 

7x24