US Stocks Rebound, S&P 500 Ends the Week Flat

April 23, 2021 03:36 PM PDT | By Team Kalkine Media

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US Stocks Rebound, S&P 500 Ends the Week Flat — Image source: Copyright © 2021 Kalkine Media Pty Ltd.

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The major U.S. stock market benchmark indexes - the S&P 500, Dow Jones Industrial Average and NASDAQ Composite Index - bounced back on Friday, April 23, from Thursday’s slump following the news on President Joe Biden’s proposal for a higher tax rate on capital gains.

The S&P 500, which hit an all-time high last Friday, gained 45 points today. Dow Jones and NASDAQ Composite picked up 228 points and 198 points respectively.

The S&P 500 rallied 1.09 percent on Friday to 4,180.17. The Dow Jones was up 0.67 percent to 34,043.49. The NASDAQ Composite Index rose 1.44 percent to 14016.81 while the small-cap Russell 2000 grew 1.76 percent to 2,271.86.

The seasonally adjusted annual rate of new house sales in the U.S. jumped 20.7 percent to 1.02 million during March, according to the latest data from the U.S. Census Bureau and the Department of Housing and Urban Development. In February, the figure fell 16.2 percent.

Meanwhile, shares of Intel fell 5.2 percent on Friday after the semiconductor company reported a 1 percent year-over-year decline in its first quarter sales. Intel’s data center revenue during the three months fell 20 percent year over year.

Technology giants including Apple, Amazon.com Google’s parent company Alphabet and Facebook will release their quarterly earnings next week.

Source: Pixabay

Top Gainers

Top performers on S&P 500 were SVB Financial Group (8.72%), Seagate Technology PLC (6.03%), Xilinx Inc. (5.35%) and American Airlines Group Inc. (5.18%)

Sypris Solutions Inc. (59.07%), Uxin Ltd. (58.09%), MicroVision Inc. (36.76%) and BioVie Inc. (33.11%) were top performers on NASDAQ.

On Dow Jones, Goldman Sachs Group Inc. (2.57%), Dow Inc. (1.94%), JPMorgan Chase & Co. (1.91%) and Apple Inc. (1.80%) gained the most.

Top Losers

Top laggards on S&P 500 were Kimberly-Clark Corp. (5.86%), Intel Corp. (5.32%), Clorox Co. (3.35%) and Church & Dwight Co Inc. (2.31%).

Inovio Pharmaceuticals Inc. (24.97%), Protara Therapeutics Inc. (18.41%), Abraxas Petroleum Corp. (14.58%) and Edap Tms SA (12.90%) were among the top losers on NASDAQ.

On Dow Jones, Intel Corp. (5.32%), Honeywell International Inc. (2.08%), American Express Co. (1.92%) and Procter & Gamble Co. (0.51%) were laggards.

Image Source: Refinitiv, S&P 500 April 23, 2021 chart

Volume Movers

Top volume movers were Ocugen Inc. (65.11M), Intel Corp. (20.75M), Apple Inc. (16.91M), MicroVision Inc. (16.58M), Sundial Growers Inc. (15.32M), Sypris Solutions Inc. (14.54M), Naked Brand Group Ltd. (13.83M), Advanced Micro Devices Inc. (11.87M), Uxin Ltd. (10.48M) and AT&T Inc. (10.14M).

Futures & Commodities

Gold futures were down 0.29 percent to US$ 1,776.75 per ounce on Friday. Silver fell 0.54 percent to US$26.038 per ounce, while copper grew 1.42 percent to US$4.3335.

Brent oil futures increased 0.90 percent to US$65.99 per barrel and WTI crude grew 1.01 percent to US$ 62.05.

Bond Market

The 30-year Treasury bond yields declined 0.25 percent to 2.235. 2.253. The 10-year bond yields fell 0.22 percent to 1.5595.

US Dollar Futures Index was down 0.57 percent to US$90.797 on April 23.

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