Markets Finish Sharply Higher Amid Ongoing Macro Concerns

BY Benzinga | ECONOMIC | 05/13/22 04:07 PM EDT

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... 

  • 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...

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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