{"id":23314,"date":"2024-05-13T15:11:03","date_gmt":"2024-05-13T20:11:03","guid":{"rendered":"https:\/\/www.eoption.com\/market-review-may-13-2024\/"},"modified":"2024-05-13T15:11:03","modified_gmt":"2024-05-13T20:11:03","slug":"market-review-may-13-2024","status":"publish","type":"post","link":"https:\/\/www.eoption.com\/market-review-may-13-2024\/","title":{"rendered":"Market Review: May 13, 2024"},"content":{"rendered":"\n
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Closing Recap<\/span><\/b><\/p>\n

Monday, May 13, 2024<\/span><\/b><\/p>\n\n\n\n\n\n\n\n
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Index<\/span><\/p>\n<\/td>\n

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Up\/Down<\/span><\/p>\n<\/td>\n

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%<\/span><\/p>\n<\/td>\n

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Last<\/span><\/p>\n<\/td>\n<\/tr>\n

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DJ Industrials<\/span><\/b><\/p>\n<\/td>\n

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-81.33<\/span><\/p>\n<\/td>\n

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0.21%<\/span><\/p>\n<\/td>\n

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39,431<\/span><\/p>\n<\/td>\n<\/tr>\n

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S&P 500<\/span><\/b><\/p>\n<\/td>\n

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-1.26<\/span><\/p>\n<\/td>\n

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0.02%<\/span><\/p>\n<\/td>\n

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5,221<\/span><\/p>\n<\/td>\n<\/tr>\n

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Nasdaq<\/span><\/b><\/p>\n<\/td>\n

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47.37<\/span><\/p>\n<\/td>\n

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0.29%<\/span><\/p>\n<\/td>\n

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16,388<\/span><\/p>\n<\/td>\n<\/tr>\n

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Russell 2000<\/span><\/b><\/p>\n<\/td>\n

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2.34<\/span><\/p>\n<\/td>\n

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0.11%<\/span><\/p>\n<\/td>\n

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2,062<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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U.S. stocks opened higher and moved sideways this afternoon finishing mixed as investors\/markets await tomorrow\u2019s first key inflation report of the week (PPI) and a few retail earnings (HD, BABA). Major averages have had a great run after closing April with losses, moving to within 1% of all-time highs for the S&P 500 last Friday into inflation data (PPI, CPI) and retail sales reports the next two days. The Dow Jones Industrial Average edged lower, snapping its 7-day losing streak as markets were very quiet today outside of a few market moving stocks. Data tomorrow at 8:30 AM, could move the needle as April Producer Price Index (PPI) M\/M is est. to rise +0.3% (prior +0.2%) and on a Y\/Y basis to rise +2.2% (prior +2.1%). On a core level, PPI (ex: food and energy) M\/M for April est. +0.2% (prior +0.2%) and Y\/Y to rise +2.4% (prior +2.4%). Note CPI and retail sales data due out on Wednesday 5\/15. Today saw positive market breadth despite led by technology, REITs, and utilities offsetting weakness in Industrials, Energy, and Consumer Staples. Treasury yields bounced slightly, while Bitcoin rose 4% to $63K, oil climbed, and gold dropped. Stock market news was generally light outside of a few movers in the old \u201cmeme\u201d space, boosting shares of names with high short interest (see below). <\/p>\n

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Economic Data<\/p>\n