AllMarket Update
logoArgusMay 06, 2021

Market Update: MKL, GOLD, CNP, F, HES, TT, VIAV, NOC, NYT, PRU, RSG, SWK, GNRC, WRK, PYPL

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

Stocks were mixed on Thursday morning following news that the Biden administration would support intellectual property waivers on coronavirus vaccines. Pfizer and Moderna shares were down sharply, though JNJ was flat. On the employment front, the Labor Department said that first-time claims for state unemployment benefits fell to 498,000 for the week ended May 1, down from 590,000 a week earlier and below the Bloomberg consensus of 538,000. The Dow rose 0.4%, the S&P rose 0.1%, and the Nasdaq fell 0.3%. Crude oil fell 1% to $65 per barrel, while gold traded near $1815 per ounce.

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