Markets Finish Sharply Higher Amid Ongoing Macro Concerns

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 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 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 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 ENPH, Wynn Resorts, Limited WYNN and Las Vegas Sands Corp. LVS were among the top gainers.

Twitter Inc TWTR, Davita Inc DVA and CH Robinson Worldwide Inc CHRW were among the top losers.

Elsewhere On The Street

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The U.S. air-safety regulators told Boeing Co BA that the documentation submitted to win approval to resume 787 deliveries to airlines after a year is incomplete, Reuters reported citing people familiar with the matter... Read More

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

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