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Dow Trades Higher as Economic Indicators Improve, Earnings Strong

Published 05/21/2021, 10:48 AM
Updated 05/21/2021, 10:58 AM
© Reuters.

© Reuters.

By Christiana Sciaudone

Investing.com -- Markets improved for a second day as better-than-expected indicators and good earnings improved sentiment.

The Manufacturing PMI for May came in stronger that the forecast at 61.5 versus the expected 60.5. Yesterday's jobless claims were the lowest since the pandemic hit.

The Dow Jones was up 218 points, or 0.64%, the S&P 500 traded 12 points, or 0.3%, higher, while the Nasdaq  slid slightly by 0.14%.

Financials, materials and energy led the charge forward, while tech stocks and consumer discretionary companies declined. Deere (NYSE:DE) jumped on strong earnings even amid supply chain complications, while Boeing (NYSE:BA) gained on a jump in Max 737 output expected next year, Reuters reported, citing people familiar with the situation.

Bitcoin, after a bumpy week, fell again after China called for crackdowns in mining behavior, CNBC reported. 

Existing home sales decreased 2.7% in April from a month earlier to a seasonally adjusted annual rate of 5.85 million, lower than expected and than an unrevised 6.01 million in March. Total sales in April were up 33.9% from a year earlier when the U.S. was still largely locked down. 

Latest comments

The magic breaker fires right as the S&P goes negative, and into the green it goes.  Fraudulent, flagrantly manipulated joke.
Everyone needs to enjoy 2021, because in my opinion, we're heading for another housing market crash (probably '22 / '23). A lot of the "talk" and "language" coming from Biden and the Democrat run congress is very similar to the talk, language (and ultimately action) from the Democrat run congress in '06 / '07.
well, as qe know, republican presidents and republican congress said never, did never and dreamed never anything wrong. and finally they got elevated to deity and faith based philosophy, so they are now intrinsecly wright.funny, lets agree on at least one thing: its always the other side thats wrong, FINISH! no more discussion.
Hello? I am simply stating an observation.
uu
This news did not age well
I'm fully hedged
When people in unemployment offices , Are Unemployed, Where are numbers coming from?.  This isn't random calling of one state, This is multiple states. Housing down.  Do you think people are going to squander money, Or pay for rent , Or food. Show me verified proof. This will go down as biggest con job , at least since 1933.    "AGAIN" Show verified proof.
All I can say is, in my region, every business is hiring, with signing bonuses. Restaurants frequently close indoor dining, not because of covid, but because of insufficient staff. Wages are much higher, to incentive hiring, and still jobs go unclaimed. It will be interesting to see what happens to unemployment and jobless claims, once the federal unemployment is discontinued in June in Ohio
by the way, manufacturing is struggling to find workers to hire as well.
lazy people, they would be called in other times
I guess this maybe posted by a writing bot
how about home sales lower than expected and dropping? optimistic economic indicator too?
Funny how numbers are better than expected when they are basically the ones expected and not good. Why can't writers stay in truth and stop twisting headlines to fit figures on indices? Indices are not in this reality anyways and go higher and higher without any reason... Until the big BANG comes sooner or later.
It is not writers. It is those with phds in economy. When the numbers r high, most get high. When the numbers r down, their prediction is way down. After all it is Newton law. Things tend to continue in the same direction unless there is another force act on it. Writers and us r not smart enough to figure that out.
‘Smart’ people cant get it right. The chance of getting it right for writers is none. So they use ‘smart’ people talking and add something to stir readers emotion to sell news.
the problem is not the writers, it is the people that read between the lines making wrong assumptions, taking things out of context, believe the fake news. believing is not the problem, trying to push down the own believes in other peoples throat is.must be feeling like the goose being stuffed to produce the foie grass.
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