ICYMI! Weekly Market Recap May 21-25, 2018
**Reminder The U.S. stock market will be closed on Monday, May 28 for Memorial Day.
Monday the U.S. stock market gap up as US-China trade war is placed "on hold". Dow Jones up +298.27 points for the day, SPY +0.75%, QQQ +0.56%, IWM +0.66%, IBB -1.32%.
Tuesday the U.S. market drops as POTUS hints the North Korean summit may not happen. Dow closed -178.26 points, IWM -0.72% notable bearish engulfing candle in 12 trading days. IBB +0.32%, QQQ-0.13%.
Wednesday the U.S. market premarket with Dow Jones -200 points, trade war fear is back on. Fed FOMC indicates it will let inflation run above 2% goal for 'temporary period'. See next rate hikes 'soon'. Dow Jones closed +52.40 points, SPY+0.28%, QQQ +0.84%, IWM +0.15%, IBB +0.50%. The U.S. stock market made reversal after the fed minutes.
Thursday President Trump cancels off the North Korean summit. Dow Jones close -75.67 points. SPY-0.19%, QQQ -0.03%, IWM +0.05%, IBB +0.08%.
Friday Dow Jones closed -58.67 points, SPY -0.24%, QQQ +0.10% and IBB +0.20%
- Nabriva Therapeutics PLC (NBRV) company announces lefamulin meets all FDA, EMA primary endpoints, but stock trading down
- NetFlix Inc (NFLX) Former President Obamas enter into a multi-year agreement to produce content for Netflix
- Celgene Corp (CELG) George Golumbeski departs from management
- Micron Technology Inc (MU)- announces $10B share repurchase program
- Adobe Systems Inc (ADBE)-authorizes new $8B stock repurchase program
- Tesla Inc (TSLA)- share continues two days slide with bad press from Consumer Reports questioned Model 3 brakes
- Cara Therapeutics Inc (CARA) announced joint venture agreement with Fresenius Medical. Stock up +42.76%
- Target Corp (TGT) earnings report https://www.tradersfish.com/Earning/target-corp
- Esperion Therapeutics Inc (ESPR) Phase 3 study of bempedoic acid meets primary endpoint
- Netflix, Inc (NFLX) all-time highs at $345.00
- Recro Pharma (REPH) receives CRL from FDA
- Celgene Corp (CELG) authorizes $3B common stock repurchase program
- Dermira (DERM) stock selling off on Investor Day
- Foot Locker, Inc (FL) earnings report https://www.tradersfish.com/Earning/foot-locker-inc
- BioMarin Pharmaceuticals Inc (BMRN) approval of Palyzsiq
Thanks for reading. Happy three days weekend.