S&P 500 Snaps 6-Day Win Streak | Closing Bell - video Dailymotion

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00:00Another sort of middling day in the markets, Carol Masso, but this time, unlike yesterday,

00:04firmly to the downside. Yeah, exactly. I mean, bouncing around here, we were talking with our

00:08Eric Weiner here at Bloomberg News, who covers the markets, and he said some of that downturn

00:12that we saw in the two o'clock hour had to do with some of the comments that Elon Musk said

00:17on a competing network about robo-taxis and kind of prioritizing that. That's an expensive cost.

00:23There's a lot of questions to be figured out by that. So his take was that maybe there was

00:27some nervousness in the market. Keep in mind, Tesla's about 2% of the S&P 500 and more than

00:323% of the NASDAQ 100. So possibly putting some pressure there. Yeah. I mean, earlier in the

00:37session, Tesla was higher by as much as 3.8%. Almost 4%. Yeah. So that was pretty big. Then it

00:42moved lower. Now it's just about half a percentage higher. But six of the seven other MAG7 stocks are

00:48actually lower right now. NVIDIA and Apple dragging the index down. You know, when you take a step back,

00:54there's no real significant economic data, at least so far this week, right? We had leading

00:58index yesterday. We had the Philly services today. So we have a momentum-driven market for the most

01:04part. In equities, it basically means recovering from that post-April 2nd drop. And then you have

01:11a weaker dollar. And of course, you have higher yields. But the actual levels day in and day out,

01:15you're just kind of tweaking around the margins. Yeah. Good point. We're also heading into a three-day

01:18holiday weekend here in the United States here. So that's going to have a big effect as well.

01:22We are expected to get some earnings after the bell tonight, including from Toll Brothers

01:26and Palo Alto Networks as we get the closing bells here in New York, right across the screen for most

01:31of the major indices. The Dow Jones Industrial Average down more than 100 points or three-tenths

01:35of 1%. The S&P down 23 or four-tenths of 1%, while the NASDAQ falling by a similar percentage amount.

01:42And your bright spot on the day, that's going to belong to the Russell 2000. Outperformance

01:46up one point or less than a tenth of a percent.

01:49All right. So a little bit of outperformance there. Hey, looking at the S&P 500, going back

01:53to the big caps, folks, most names in the index lower in today's session, 328 to the downside.

02:00Scarlett, 173 actually gaining some ground here. All right. Let's take a look at the IMAP. A lot of

02:05red on that screen. And the worst decliners on the day are energy stocks down by about 1%. That was

02:11the same case as yesterday. And in fact, energy is down about 3% so far this year. Communication

02:15services, consumer discretionary, also lower by at least half of 1%. On the upside, there are three

02:21slivers of green pies slices. You have utilities, healthcare, and consumer staples. So pretty

02:27defensive sectors there. All right, guys, let's get to some of the individual gainers. A lot of red

02:31there. But Moderna, definitely one of the outperformers at its highs, up almost 15% in today's session,

02:37finishing the day with a gain of about 6% here. It's had like a two-day gain of about, I want to say,

02:43about 10%, 12% here. Up today, along with shares of other vaccine makers, including Novavax, after

02:48the FDA outlined an approach on the path forward for COVID shots that is viewed as better than

02:53expected. U.S. regulators, they will no longer approve COVID booster shots for healthy adults,

02:58nor for children without new studies, adding a costly requirement for drug makers, though they

03:04will still be available for millions of high-risk Americans. So the point is the agency's willingness

03:08to continue making the shots available for high-risk people with a wide range of health conditions was

03:13kind of a relief to the industries. They feared a kind of a bigger wave of restrictions from the

03:20Trump administration. So we didn't get that. A restriction on COVID shots? Well, yeah, meaning,

03:25yeah, or basically saying maybe people didn't have to get these, you know, vaccines. But if you want

03:30to get them, you can do that, right? I guess you can do that. I mean, this is still America, right?

03:33Yeah. Well, yeah, I guess so. Oh, okay. I'm just checking. I guess so. You'll find out.

03:37Well, insurance cover it. That's a good question. That's a good point, right? When there's mandates

03:41and so on. Magnite is another company that was definitely an outperformer. It was up there.

03:46Am I allowed to buy this or not? Sorry. Go ahead.

03:52Wow. That was a sigh. It's up about 11% at its highs, up about 5% here at the close. It's something

03:58kind of different, guys. I just threw it out there because I knew Romaine would love it. It's about a

04:02$2.3 billion market cap. Advertising company and Amazon Publisher Services announced a deeper

04:07streaming TV collaboration with the company. So that really saw some move to the upside. And

04:12Amherst Sports, thank you, Tim, for saying, Carol, you got to do this.

04:16Yes.

04:16Stock up about...

04:17It's a big deal. I'm surprised you didn't leave with us.

04:20But then what would you complain about? All right. Up about 19% in today's session.

04:25Well played, Carol.

04:26Company boosted its adjusted profit forecast for the full year and reported first quarter results

04:30that topped expectations.

S&P 500 Snaps 6-Day Win Streak | Closing Bell

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