U.S. indices traded sharply higher Friday following recent weakness. Markets were highly volatile this week, selling off following the April CPI report, which showed worse-than-expected inflation.
The headline CPI rose 8.3% in April, down slightly from 8.5% in March but above economist estimates of 8.1%. Prior to 2022, the CPI hadn't risen 8.3% in any month since 1982.
Core inflation, which excludes volatile food and energy prices, was up 6.2% in April, above economist estimates of a 6% gain... Read More
- The Nasdaq composite finished higher by 3.70% to 12,387; The Invesco QQQ Trust Series 1 (NASDAQ:QQQ) gained 3.71% to $301.94
- The S&P 500 traded higher by 2.39% to 4,023; The SPDR S&P 500 ETF Trust (NASDAQ:SPY) gained 2.36% to $401.68
- The Dow Jones composite finished higher by 1.26% to 11,043; The SPDR Dow Jones Industrial Average ETF Trust (NASDAQ:DIA) finished higher by 1.45% at $322.23
Here are the day's winners and losers from the S&P 500, according to data from Benzinga Pro.
Enphase Energy Inc (NASDAQ:ENPH), Wynn Resorts, Limited (NASDAQ:WYNN) and Las Vegas Sands Corp. (NYSE:LVS) were among the top gainers.
Twitter Inc (NYSE:TWTR), Davita Inc (NYSE:DVA) and CH Robinson Worldwide Inc (NASDAQ:CHRW) were among the top losers.
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U.S. GDP dropped 1.4% in the first quarter of 2022, and the SPY is down 16.3% year-to-date as investors become increasingly concerned about the possibility of a U.S. recession in 2022. However, Bank of America economist Aditya Bhave said this week that... Read More
