Dow Jones, S&P 500 Close Higher As Energy Stocks Rally

3 min read | May 06, 2021 08:43 AM AEST | By Team Kalkine Media

Google News:

Dow Jones, S&P 500 Close Higher As Energy Stocks Rally — Image source: Copyright © 2021 Kalkine Media Pty Ltd.

Recent News

Santos (ASX:STO) After the Takeover Collapse: Bargain or Value Trap?

Why Pro Medicus (ASX:PME) Is Leading the Growth Stock Conversation

Is 360 (ASX:360) Amid ASX 200 Revealing Growth’s New Reality?

Why 360 (ASX:360) ASX 200 Is Facing a New Growth Test

Make Kalkine Media
My Trusted Source

The U.S. stock market benchmark indexes Dow Jones Industrial Average and S&P 500 ended higher on Wednesday, May 5, following a strong rally in energy stocks. However, tech-savvy NASDAQ Composite Index continued its decline and closed lower.

The blue chip index gained 97 points on Wednesday. S&P 500 added 3 points, while NASDAQ lost 51 points.

The Dow Jones rose 0.29 percent to 34,230.34. S&P 500 was slightly up by 0.07 percent to 4,167.59. NASDAQ Composite Index declined 0.37 percent to 13,582.42. The small-cap Russell 2000 decreased 0.31 percent to 2,241.37.

The U.S. Department of Labor on May 5 withdrew from the previous administration’s Independent Contractor Rule, which would have reportedly made it easier for the companies like Uber, Lyft and DoorDash to classify gig workers and others as independent contractors rather than employees.

General Motors’ stock were trading higher on Wednesday after the automaker reaffirmed its full-year guidance and posted an adjusted EBIT of US$4.4 billion for the first quarter, up from US$1.2 billion in the year-ago period despite the semiconductor shortage.

Shares of Under Armour and Caesars Entertainment also rose as both the companies showed upbeat forecast for the year after reporting their first-quarter results.

Peloton Interactive’s stock plunged after the company issued a recall for its 125,000 Tread+ treadmills following reports on injuries and a child’s death linked to the device.

Ride-hailing service major Uber is scheduled to report its first quarter earnings today.

Top Gainers

Top performers on S&P 500 were Caesars Entertainment Inc. (7.80%), Devon Energy Corp (7.59% ), Under Armour Inc (7.15%) and Under Armour Inc (6.91%).

Nemaura Medical Inc (135.32%), Chiasma Inc (40.14%), Big 5 Sporting Goods Corp (31.15%) and Ever-Glory International Group Inc (29.24%) were top performers on NASDAQ.

On Dow Jones, Dow Inc (2.79%), Chevron Corp (2.69%), Merck & Co Inc (2.25%) and Goldman Sachs Group Inc (2.22%) and gained the most.

Top Losers

Top laggards on S&P 500 were Verisk Analytics Inc (8.43%), Amerisourcebergen Corp (5.59%), Hilton Worldwide Holdings Inc (4.39%) and HollyFrontier Corp (4.25%).

Cocrystal Pharma Inc (31.31%), Intrusion Inc (28.82%), Sequential Brands Group Inc (27.14%) and Reed's Inc (24.31%) were among the top losers on NASDAQ.

On Dow Jones, Boeing Co (2.33%), Walt Disney Co (1.49%), Visa Inc (1.22%) and Salesforce.Com Inc (0.82%) were laggards.

Image Source: EODHD/Others, NASDAQ Composite Index May 5

Volume Movers

Top volume movers were Athenex Inc (26.81M), Sundial Growers Inc (18.12M), Apple Inc (17.32M), Peloton Interactive Inc (16.80M), Chiasma Inc (14.87M), Ocugen Inc (12.48M) and Farmmi Inc (12.36M).

Futures & Commodities

Gold futures were up 0.60 percent to US$ 1,786.60 per ounce on Wednesday. Silver grew 0.05 percent to US$26.570 per ounce, while copper was down 0.07 percent to US$ 4.5183.

Brent oil futures decreased by 0.17 percent to US$ 68.53 per barrel and WTI crude was down 0.06 percent to US$ 65.25.

Bond Market

The 30-year Treasury bond yields were down 0.58 percent on Wednesday to 2.245 while the 10-year bond yields declined 0.80 percent to 1.571.

US Dollar Futures Index was up 0.34 percent to US$ 91.240.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.