Wednesday 2 June 2021: US equity markets mixed after resuming trading following the Memorial Day long weekend
Jun 1, 2021 ·
7m 24s
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Description
US equity markets mixed after resuming trading following the Memorial Day long weekend, with investors continuing to monitor inflation signals - Dow added +46-points or +0.13%, paring an opening gain...
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US equity markets mixed after resuming trading following the Memorial Day long weekend, with investors continuing to monitor inflation signals - Dow added +46-points or +0.13%, paring an opening gain of as much as 300-points but logging a fourth straight session of gains. The broader S&P500 dipped -0.05% despite a +3.93% jump for the Energy sector, and with the S&P 500 Financial sector (+0.66%) hitting a record high. Health Care (down -1.64%) and Utilities (-0.62%) were the worst performing primary sectors. American Airlines Group Inc and United Airlines gained +1.77% and +2.26%, respectively, after the Transportation Security Administration said it screened an average of 1.78M people from Friday through Monday, well above the volumes one year ago and another sign that U.S. air travel has reached a pandemic-era high. Those volumes are more than six times higher than a year ago but still 22% below Memorial Day weekend in 2019. Abbott Laboratories fell -8.3% after the company cut its full-year 2021 profit forecast, citing expectations for a sharp decline in revenue from its COVID-19 tests as more Americans get vaccinated. The Nasdaq slipped -0.09%. The small capitalisation Russell 2000 rose +1.14%. In merger and acquisition (M&A) news, Cloudera Inc jumped +23.9% after private equity firms KKR & Co and Clayton Dubilier & Rice LLC agreed to take the data analytics firm private for US$4.7B (or US$16 per share).
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Author | Morgans Financial Limited |
Organization | Morgans Financial Limited |
Website | - |
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