Thursday, 22 April 2021: US equity markets arrested a two session slide as the ‘re-opening trade’ regained its footing

Apr 21, 2021 · 5m 41s
Thursday, 22 April 2021: US equity markets arrested a two session slide as the ‘re-opening trade’ regained its footing
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US equity markets arrested a two session slide as the ‘re-opening trade’ regained its footing – Dow rose +316-points or +0.93% 34,137.31, logging its second highest close ever as 26...

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US equity markets arrested a two session slide as the ‘re-opening trade’ regained its footing – Dow rose +316-points or +0.93% 34,137.31, logging its second highest close ever as 26 of the 30 index components advanced. The S&P500 gained +0.93% amid a broad-based rally that saw ~82% of the index constituents advance. Materials (up +1.87%), Energy (+1.48%) and Financials (+1.39%) led nine of the eleven primary sectors higher. Utilities (down -0.90%) and Communication Services (-.28%) were the only two sectors to close in the red. Norwegian Cruise Line Holdings jumped +10.32%, buoyed by an upgrade from Goldman Sachs (with the investment bank citing the company’s capacity growth and low leverage compared to its peers). Fellow cruise operator Carnival Corp gained +6.3%. United Airlines Holdings Inc rebounded +3% after dropping -8.53% in the previous session after the carrier recorded its fifth consecutive quarterly loss. The technology-centric Nasdaq +1.19%, recording its largest single session percentage climb since 15 April. Netflix Inc dropped -7.40% after the streaming giant reported subscriber additions that fell far short of Wall Street estimates after the close of the previous session. The Russell 2000 index rallied +2.35%, marking the small capitalisation indice’s best single session performance since 1 March.
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Author Morgans Financial Limited
Organization Morgans Financial Limited
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