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ICYMI! Weekly Market Recap May 21-25, 2018

JT001

25-May-2018 21:43 PM

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**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%

Monday:

  • 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

Tuesday:

  • 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

Wednesday:

  • 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

Thursday:

  • Recro Pharma (REPH) receives CRL from FDA
  • Celgene Corp (CELG) authorizes $3B common stock repurchase program
  • Dermira (DERM) stock selling off on Investor Day

Friday:

Thanks for reading. Happy three days weekend.

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