Analyst's View
U.S. Markets, U.S stocks fell across the board as investors assessed persistent inflation after the consumer price index for April remained near a 40-year-high raising concerns about a looming recession. The Dow Jones Industrial Average notched a fifth day of losses, while the S&P 500 fell 1.7%, dropping back below 4,000 a key psychological level.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 31834.11 | -326.63 | -1.02% |
| SP500 | S&P 500 | 3935.18 | -65.87 | -1.65% |
| I:COMP | NASDAQ COMPOSITE INDEX | 11364.235504 | -373.44 | -3.18% |
The Nasdaq Composite fell 3% to its lowest level since March 2020, with large-cap tech including Facebook, Microsoft and Apple all declining.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| FB | META PLATFORMS INC. | 188.74 | -8.91 | -4.51% |
| MSFT | MICROSOFT CORP. | 260.55 | -8.95 | -3.32% |
| AAPL | APPLE INC. | 146.50 | -8.01 | -5.18% |
The CPI Index rose by an annual rate of 8.3%, more than economists expected and slightly less than the prior month's 8.5%.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| USO | UNITED STATES OIL FUND L.P. | 78.18 | +3.65 | +4.90% |
| BNO | UNITED STS BRENT OIL FD LP UNIT | 30.64 | +1.38 | +4.72% |
Commodities, Oil rose with U.S. West Texas Intermediate crude up 6% to $105 and Brent, the international benchmark, settled at $107.
The Energy Information Administration released its inventory report for last week. Crude stockpiles rose by 8.4 million barrels, following a surprise build of 1.3 million barrels the previous week.
Earning reports, Coinbase Global took a drastic hit after the company missed estimates for first-quarter revenue and posted a loss.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| COIN | COINBASE GLOBAL INC. | 53.72 | -19.27 | -26.40% |
Bitcoin dipped below the $30,000 level following the hotter than expected inflation reading.
