Wall Street ends dismal week with sharp gains
Wall Street finished off a rough week on a brighter note as investors bet the economic rebound will continue to chug along.
The Dow rallied 360 points on Friday. The S&P 500 gained 61. The Nasdaq surged 314.
The market was oversold and may be scaling back some of those inflation fears that rattled stocks earlier in the week, says Carin Pai, head of equity strategy at Fiduciary Trust International.
"So some of the inflation numbers that we're seeing, maybe the market's overreacting a little bit on the concern about an inflationary scenario that's going to be sustained. We think more so, the inflation scenario that we're thinking about is that it's going to last for a period of time, but it's not going to be sustained."
Shares of Walt Disney were left out of the rally. Investors weren't happy with the latest subscriber numbers for the Disney+ streaming service. The stock fell 2.6 percent. Netflix, the top name in the streaming video business, moved higher.
Beauty stocks rallied as investors bet there will be more sales of make-up and other cosmetics after the CDC advised fully-vaccinated Americans that they don't have to wear masks in most places. Revlon jumped more than 4 percent and Estee Lauder, parent of MAC, rose nearly 2 percent.
Despite Friday's gains it was still the worst week for the stock market since February.
Investors had to sort through more disappointing economic data Friday. Retail sales unexpectedly stalled in April. Sales were flat after the upwardly revised 10.7 percent surge in March, as the impact of stimulus money waned.
But what's bad news for Main Street might be seen as good news on Wall Street, with investors betting the retail sales slowdown will dampen talk the Federal Reserve will need to remove the extra stimulus it's pumping into the economy.
相關影片推薦
- 1:37虎山巖金針花開了!假日估湧2萬人 聯外道塞爆華視影音12,087 次觀看・12 小時前
- 1:42【直擊】余天孫子女終於回家了!樂樂緊抱余筱萍 拉著余祥銓捨不得放娛樂星聞58,564 次觀看・9 小時前
- 4:13電動車舊電池怎麼處理?回收利用!德國之聲6,379 次觀看・9 小時前
- 1:07台鐵舊自強故障臨時換車! 旅客控「買座票變站票」東森新聞影音2,739 次觀看・9 小時前
- 1:41都更後變無家可歸! 住戶拿70萬怨:廁所都買不到東森新聞影音84,885 次觀看・1 天前
- 2:02停紅燈遭後車撞亡 業務員上班遇死劫獨留妻兒TVBS新聞網影音6,199 次觀看・1 天前
- 1:29殯葬大亨董娘車禍 新畫面曝肇事駕駛違規蛇行|#鏡新聞鏡新聞103,782 次觀看・1 天前
- 1:53近千筆罰單未繳清 休旅車違規上路被當場拔牌民視影音8,355 次觀看・6 小時前
- 1:45「刑事戰將」遭收押 同寢被告挑選背景單純|#鏡新聞鏡新聞1,027 次觀看・10 小時前
- 1:188噸全新大鋼牙上陣! 花蓮藍天麗池飯店開拆TVBS新聞網影音9,823 次觀看・5 小時前
熱門必看
- 13:05雪力神分析INF人!精彩到連唐老師都忘了講星座!?Ep.216-3唐綺陽談星室25,540 次觀看・4 天前
- 14:06到京都別只衝伏見稻荷神社 想變美、求戀愛運來這才內行Yahoo創作摩人4,240 次觀看・5 天前
- 11:30【淚之女婿】突變劇情被罵爆... 原來賢祐就是白血球?眼淚是海仁找回記憶關鍵?七大《女王》解析&主演幕後故事Ki笑人生20,085 次觀看・2 天前
- 8:05拿水沖香奈兒!?90萬小廢包沒人帶?! 2024精品新趨勢 永續環保最時尚!!Sherry袁曼軒2,944 次觀看・5 天前
- 7:40花200萬存0056後悔了?4年定期定額0050與0056投報大公開!SHIN LI20,765 次觀看・4 天前