AllMarket Update
logoArgusMay 05, 2021

Market Update: CVS, EL, SPGI, NOV, OKE, VZ, APO, CARR

Communication Services, Financial Services, Energy, Healthcare, Industrials, Consumer Defensive

Stocks rose modestly on Wednesday morning, recovering some of their losses after Tuesday's selloff. On the employment front, payroll provider ADP said that U.S. private employers added 742,000 jobs in April, up from 565,000 in March. The reading was the strongest since last September but missed the Reuters consensus, which called for an increase of 800,000 jobs. The Institute for Supply Management said that its services index fell to 62.7 in April, down from 63.7 in March and below the consensus forecast of 64.3. The Dow rose 0.2%, the S&P 0.3%, and the Nasdaq 0.5%. Crude oil traded near $66 per barrel, while gold rose $7 to $1783 per ounce.

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