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carnivalriot
2021-05-10

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Dow, S&P 500 rise to start Monday trade but tech stocks slide

(May 10) The Dow Jones Industrial Average climbed to a record high on Monday, building on the benchm

Dow, S&P 500 rise to start Monday trade but tech stocks slide

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Exxon was also higher in early trading.</p><p><img src=\"https://static.tigerbbs.com/a3dc914f0942e1c66ed644ccdebd6384\" tg-width=\"337\" tg-height=\"165\"></p><p>Bigger tech stocks declined in early trading, however, weighing on sentiment. Tesla was down 1%. Oracle lost nearly 1% after adowngrade from Barclays. Facebook and Alphabetwere also lower after a downgrade by Citigroup.</p><p>Last week, the Dow rallied 2.7% and the S&amp;P 500 gained 1.2%. Despite a 0.9% rally on the week’s final session, the Nasdaq Composite shed 1.5% over the same period.</p><p>The late-week optimism came despite a far-weaker-than-expected April jobs report, which showed that U.S.employers added 266,000 net payrollslast month. Economists polled by Dow Jones had expected 1 million additions.</p><p>Mike Wilson, chief U.S. equity strategist at Morgan Stanley, noted that traders appear to have already priced a robust economic reopening thanks to declining Covid-19 cases. 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Dow, S&P 500 rise to start Monday trade but tech stocks slide

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