Stock Market Buzz: May 15, 2024 Recap
Catch up on the biggest stock market movers and news from May 15th, 2024. This includes record highs for major indexes, Disney's streaming struggles, and D.R. Horton's big win.
Stock Market Buzz: May 15, 2024 Recap
The stock market closed higher on Wednesday, May 15th, 2024, continuing the upward trend despite some stumbles among consumer discretionary stocks. Here’s a quick rundown of what made headlines:
Market Gains:
- The S&P 500 and the Nasdaq Composite both reached new all-time highs, buoyed by positive economic data. The S&P 500 edged up 0.4%, while the tech-heavy Nasdaq gained 0.6% [CNBC].
Stock Movers:
- Winners: Homebuilder D.R. Horton defied the consumer discretionary slump, surging over 5%. monday.com Ltd. also saw a significant jump of 21.4% after exceeding earnings expectations [Nasdaq].
- Losers: Disney shares dipped 2.5% after CEO Bob Iger acknowledged overinvestment in streaming services, raising concerns about profitability [Nasdaq]. Boeing also took a hit, dropping 2.1% after the Department of Justice brought up violations related to past airplane crashes [Nasdaq].
Other Noteworthy News:
- BT Group in the UK reported a decline in profits but reassured investors of future cash flow improvements. The company’s stock price jumped 10% on this news [Investors’ Chronicle].
- EasyJet announced CEO Johan Lundgren’s retirement for next year, with CFO Kenton Jarvis slated to take over [Investors’ Chronicle].
