Pre-Earnings Play for Bulls This Week

Both the Dow and Nasdaq scored triple-digit wins on Monday

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Schaeffer's Market Recap
5/24/2021
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Stocks Start Week Strong Thanks to Big Tech, Bitcoin Bounce


By: Fernanda Horner

Stocks kicked off the last week of what has been a volatile month on an upbeat note, thanks to strength in the tech sector as well as growing interest in reopening plays. The Dow added 186 points, while the S&P 500 also registered notable gains. The tech-heavy Nasdaq notched a triple-digit win as well, with Alphabet (GOOGL), Facebook (FB) and Microsoft (MSFT) adding more than 2% each on Monday.

Investors were also keeping an eye on bitcoin, after the cryptocurrency staged a roughly 12% bounce, following a dip below the $32,000 mark over the weekend. Also boosting Wall Street's sentiment was news that Covid-19 cases in the U.S. have fallen to their lowest level in almost a year.

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

  • Options traders blasted SPCE after a successful test flight.
  • HP stock moved higher on pre-earnings praise from Citigroup.
  • Plus, oil name plummets on billion-dollar merger; DG attracts hefty BofA downgrade; and Martin Marietta Materials stock pops on acquisition buzz.
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