Stocks Conclude Turbulent May - InvestingChannel

Stocks Conclude Turbulent May

U.S. stocks seesawed Tuesday as investors look to close out a rocky month of trading that saw the S&P 500 flirt with bear market territory amid inflation and recession fears.

The Dow Jones Industrials stumbled 222.84 points, to end Tuesday and May at 32,990.12.

The S&P 500 dropped 26.09 points to 4,132.15

T

he NASDAQ Composite gave up earlier gains and tumbled 49.74 points to 12,081.39.

After a holiday hiatus Monday, U.S. stocks wrapped up a roller-coaster May. The Dow and the S&P 500 finished the month little changed, supported by a major rally the week prior. The NASDAQ lost about 2.1% on the month.

Energy stocks comprised the worst-performing S&P 500 sector Tuesday, after being the biggest gainer earlier in the session. Chevron slid 2%, and Schlumberger fell 4.3%.

Industrial stocks linked to the economic cycle also fell Tuesday. Honeywell lost 1.4% and Nucor fell 3.8%.

Health care was another lagging sector Tuesday. UnitedHealth Group was among the biggest losers on the Dow, off by 2%.

Meanwhile, a rally in some mega-cap technology stocks provided a bit of support to the broader indexes. Amazon rose 4.4% and Google parent Alphabet gained 1.3%.

Stocks were down broadly Tuesday with nine out of 11 S&P 500 sectors negative.

Treasury prices collapsed, raising yields to 2.86% from Friday’s 2.74%. Treasury prices and yields move in opposite directions.

Oil prices slid 15 cents to $114.92 U.S. a barrel.

Gold prices lost $18.50 to $1,832.80 U.S. an ounce.

Related posts

Advisors in Focus- January 6, 2021

Gavin Maguire

Advisors in Focus- February 15, 2021

Gavin Maguire

Advisors in Focus- February 22, 2021

Gavin Maguire

Advisors in Focus- February 28, 2021

Gavin Maguire

Advisors in Focus- March 18, 2021

Gavin Maguire

Advisors in Focus- March 21, 2021

Gavin Maguire