May 17, 2021

May 17, 2021

Stocks fell today, resuming last week’s declines as investors’ concerns around rising inflation continued.

 

Dow Jones finished -54 at 34,327

S&P 500 finished -11 at 4,163

NASDAQ finished -51 at 13,379

 

The 10 Year Treasury closed up 1 basis point yielding 1.64%

Oil prices closed up $0.94 ending at $66.31 a barrel.

Gold prices closed up $28.50 ending at $1,866 an ounce.

 

In the days’ stock news:

 

  • Hostess Brands closed down 1.6% despite beating on the top and bottom lines of its quarterly results. Hostess Brands reported earnings of 20 cents per share on revenue of $265 million.
  • Shares of Tesla are down 27% over the last three months, and closed down 2.2% today after CEO Elon Musk said the company has not sold any bitcoin. Some investors had wondered whether the electric car maker had trimmed its bitcoin holdings after Tesla decided to stop taking bitcoin for automobile purchases.

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