AllMarket Summary
logoArgusApril 30, 2021

Market Digest: CME, EAT, MCD, MSFT, NUE, SIVB, HA

Sector(s)
Financial Services, Basic Materials, Technology, Industrials, Consumer Cyclical
Summary

Stocks recovered from midday losses on Thursday afternoon, led by the Communication Services and Financial sectors. Facebook shares rose more than 7% after the company posted much better than expected 1Q sales and earnings, along with an increase in daily active users. On the economic front, the Commerce Department reported that U.S. GDP rose at a 6.4% annualized rate in the first quarter, above the consensus forecast of 6.1%. First-time jobless claims fell to 553,000 for the week ended April 24, down from a revised 566,000 a week earlier but above the consensus forecast of 540,000. Continuing claims rose to 3.66 million, up from 3.65 million a week earlier. The Dow rose 0.71%, the S&P 0.68%, and the Nasdaq 0.22%. Crude oil traded near $65 per barrel, while gold fell slightly to $1773 per ounce.

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