Unpacking Disney's Revenue Miss

Stocks extended their rebound on Friday

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Schaeffer's Market Recap
5/14/2021
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Major Indexes Log Weekly Losses Despite Strong Finish


By: Fernanda Horner

The major benchmarks extended their gains on Friday to close out the session with solid wins, though for the week all three registered substantial losses. The Dow added more than 360 points, with tech stocks and reopening plays leading the way higher. The S&P 500 and Nasdaq registered strong gains as well, though the latter stands out as this week's underperformer, logging its biggest one-week drop in over two months. Meanwhile, the Cboe Volatility Index (VIX) -- Wall Street's fear gauge -- fell for the day, but still managed to score its best week since late February.

In other news, advance retail sales data showed consumer purchases slowed down in April. A generally upbeat earnings season seemed to overshadow the disappointing data, though, as investors bought the dip on stocks in hopes that the bull market could run further still.

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

  • Disney stock plummeted after the company reported a revenue miss.
  • Reaffirmed financial statements helped prop up this energy name.
  • Plus, ABNB earnings failed to impress; General Electric stock popped on reinstated analyst coverage; and more on VIX's rollercoaster week. 
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