BIG Brushes Off Quarterly Win

All three major benchmarks moved higher on Friday

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Schaeffer's Market Recap
5/28/2021
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Dow Heads Into Holiday Weekend with Weekly, Monthly Wins


By: Fernanda Horner

The major indexes ended May with a bang, as economic recovery optimism helped all three benchmarks land weekly wins. For one, the Dow rose 64 points, as traders contended with inflation data that was higher than anticipated, but not as dramatic as some had feared. Meanwhile, the S&P 500 and Nasdaq also scored daily gains of their own. For the month, both the Dow and S&P 500 notched wins.

In other news, meme stocks were in the spotlight once again, after AMC Entertainment (AMC) surged more than 30% as it became the latest target of Reddit’s WallStreetBets forum. Investors were also keeping an eye on infrastructure talks in Washington, D.C., after Senate Republicans sent U.S. President Joe Biden a $928 billion counteroffer.

Continue reading for more on today's market, including:

  • Boeing stock dropped off after a delay in airplane deliveries.
  • The dismal data behind BIG's post-earnings pullback.
  • Plus, 12 cannabis stocks lighting up Wall Street; why options traders blasted ULTA; and checking in with PVH ahead of earnings.
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