May 10, 2021

May 10, 2021

Stocks closed negative today, with technology stocks under more pressure as investors weighed the risks that higher inflation during the pandemic recovery might weigh on high-growth names.

 

Dow Jones finished -35 at 34,742

S&P 500 finished -44 at 4,188

NASDAQ finished -350 at 13,401

 

The 10 Year Treasury closed up 2 basis points yielding 1.60%

Oil prices closed down $0.08 ending at $64.82 a barrel.

Gold prices closed up $7.00 ending at $1,838 an ounce.

 

In the days’ stock news:

 

  • Marriott closed down more than 4% after the company reported a revenue miss. Marriott did beat earnings estimates, however, with an adjusted 10 cents per share for the first quarter.
  • Coty closed down more than 13% after Coty’s third-quarter results failed to top expectations. Coty’s reported that it broke even on an adjusted earnings per share basis and generated $1.03 billion in revenue.

 

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