👉Trump and XI standoff ends in a stalemate for the market

3 Utilities Companies that Broke Out Last Week
It's the monthly jobs numbers today and they're not going to be pretty and will be possibly the tip of the iceberg as we head into May.
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Good morning. The market eked out another 3% gain last week despite a rocky finish. It was an unusual week as big tech faltered early in the week and financials began to lead.

However, as the week closed, it was back to what has been working. As we closed out the month of May's trading last week, we'll have a chance to see just how resilient the market will be to data as the summer doldrums begin.

Now here's the rest of the news:
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MARKETS
DOW 25,383.11 -17.53%
S&P 3,044.31 +14.58%
NASDAQ 9,489.87 +120.88%
*As of market close
Stocks rose on Friday, as market reversed following Trump response over Hong Kong.
Oil traded rose 4.78 %, on U.S. and China trade optimism.
Gold fell 0.85 %, as prices finish higher for the third consecutive month.
Cryptocurrencies traded lower, with Bitcoin finishing 0.68% lower closing at $9495.

Today's TOP TIPS
3 Utilities Companies that Broke Out Last Week
It's hard to go a minute without the use of some utility to provide electricity, water or natural gas. Even when you turn the lights out to go to sleep, you probably rest better knowing that your cell phone is charging and that your alarm clock is being powered. While utilities are extremely important to our everyday life, it doesn't always provide the most interest from investors or traders.

» FULL STORY

Option Traders Taking a Closer Look at Consumer Cyclicals as the Sector Nears February High
The Consumer Discretionary SPDR Select Sector ETF (NYSEARCA: XLY) finished higher for the week last week but for only the second time in the past nine weeks, it underperformed the Consumer Staples SPDR Select Sector ETF (NYSEARCA: XLP). While one week doesn't make a trend, it is a sign and as the price approaches Pre-COVID highs it does make you wonder how much is left in the tank.

» FULL STORY

This is the Most-Sold Stock by Insiders Last Week
The company that led the list with over $986.8 Million in value sold is Avantor Inc (NYSE: AVTR). Insiders sold over 62 million shares in 4 different transactions. This on top of the selling that occurred last week. Insider transactions included two different 10% owners in Goldman Sachs and New Mountain Investments and two directors.

» FULL STORY

IN OTHER NEWS
Stocks rebound on relief at Trump's response to China over Hong Kong
Pfizer stock plunges 7% after breast cancer study halted
U.N. agency task force urges uniform approach to flying during coronavirus
Oil surges 5% on U.S.-China trade optimism, falling crude output
Lumber Sees Surprise Win as Shut-In Americans Fix Up Their Homes
GrubHub stock gains after report of narrowed price gap in Uber takeover talks
Energy ETFs make up some ground in May, up nearly 8%
Occidental Petroleum cuts dividend to a penny a share
Fed Reveals ETFs It Purchased in Emergency Lending Program
Gold futures end higher, up more than 3% for the month

S&P 500 MOVERS
TOP
ZM 9.74%
NLOK  8.787%
JD  6.488%
REGN 5.984%
DPZ 5.551%

BOTTOM
DXC 14.243%
COTY  13.365%
JWN 10.982%

APA 9.099%
HOG 8.998%

Quote of the Day
The market was worried he (Trump) was going to announce something substantial, something detrimental to the U.S. economy. Then as he spoke it became clear the actions being taken were not going to be as dramatic as originally feared.
- Chris Zaccarelli, chief investment officer at Independent Advisor Alliance, quoted by Reuters

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