May 20, 2021

May 20, 2021

A third straight day of selling yesterday after plunging crypto currency prices rattled the overall market, but a late tech rally helped the S&P 500 erase about 80% of the early loss and today the market had a better tone as tech & cryptocurrency rallied back.

At the close:

  • Dow +188 to 34084
  • S&P 500 +43 to 4159
  • NASDAQ +236 to 13535
  • Oil -1.30 to 62.05
  • Gold -4 to 1877

In other news tech giant Cisco, already up 20% for the year, was fractionally higher after reporting revenue and net income above analysts’ expectations but their guidance was disappointing. Virgin Galactic has been in a nose dive dropping 70% in the last 100 days but 14% higher today after they announced their next flight will be Saturday. Victoria Secrets parent company was already up 86% this year so a report that showed revenue and net income above predications was greet with profit taking.

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