May 11, 2021

May 11, 2021

The Nasdaq ended a wild trading day flat after a big tech reversal and the Dow drops 470 points for the worst day since February.

 

Dow Jones finished -474 at 34,269

S&P 500 finished -36 at 4,152

NASDAQ finished -12 at 13,389

 

The 10 Year Treasury closed up 2 basis points yielding 1.62%

Oil prices closed up $0.40 ending at $65.32 a barrel.

Gold prices closed up $0.20 ending at $1,838 an ounce.

 

In the days’ stock news:

 

  • Novavax closed down more than 13% after the company pushed back its timeline for seeking Covid-19 vaccine approvals. The company is not planning to apply for regulatory approval in the U.S., U.K. and Europe until the third quarter. Novavax also pushed back its timeline for full production to the fourth quarter.
  • Roblox closed up more than 20% after it reported a first-quarter loss of 46 cents per share on revenues of $387 million, a 140% jump on a year-over-year basis. The company also said its average daily active users were 42.1 million during the quarter, up 79% year over year.

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