The Dow is on track for its sixth win in the last seven sessions
It was a relatively positive week for stocks with all three major benchmarks on their way to solid weekly gains as of Friday afternoon. Monday started off strong, with both Dow and Nasdaq scoring goals three-digit profitsAlso, investors watched Bitcoin (BTC) rebound from the weekend slump. On Tuesday, stocks returned their early morning gains to end the day in the red as Big Tech collapsed, albeit several Reopening of stocks to record further market losses. In the middle of the week, the Dow closed its 125th anniversary north of breakeven. Sentiment was bolstered by a dramatic decline Covid-19 cases in the US Thursday better than expected weekly job data raised the Dow to a three-digit pop as Senate Republicans opposed President Joe Biden’s Infrastructure plan and Treasury Secretary Janet Yellen spoke about inflation. Shortly before on the way into the long weekendThe Dow celebrates its sixth win in the last seven sessions.
Billion dollar acquisition buzz
At the beginning of the week, two stocks reacted very differently to a billion dollar merger. Martin Marietta Materials (MLM) The share rose after the announcement that it would take over the business of the US subsidiary Lehigh Hanson Inc in the West region from HeidelbergCement for US $ 2.3 billion in cash Cabot Oil & Gas (COG) crashed after plans to buy Cimarex Energy (XEC) in an all-stock deal for $ 7.35 billion were revealed. The big deals didn’t stop there. Amazon.com (AMZN) further catapulted into the entertainment business this week after purchasing MGM Studios for an ambitious $ 8.45 billion.
Household names hit the headlines
Also this week, many big names made headlines for the reopening. In the retail news, Dick’s Sporting Goods rose after one Hit profitand reports came that Walmart (WMT) partners with Gap (GPS) to bring a new line of home products to market. Walt Disney (DIS) also jumped in and saw a surge Option activity a week after earning. Option bulls targeted both of them Shake Shack (SHAK) and United Airlines (UAL), the former after a high bull mark. After all, Twitter (TWTR) has a lot going for it technical support that could help the stock get out of its recent pullback.
Memorial Day Week seems to be bringing a lot of dates
However, the yield season is coming to an end next week Reports from Broadcom (AVGO), Canopy Growth (CGC), Cloudera (CLDR), Lululemon Athletica (LULU) and Zoom Video (ZM) continue to be published. A variety of economic data is also available, including an update to the Federal Reserves’ latest Beige Book report, more initial and rolling data on unemployment claims, and an ADP employment report. In the meantime, check out those Best and worst performing stocks historically during Memorial Day week.