BullnBearTrading wrote a post · May 17 03:47

U.S. Stocks Surge Then Pull Back, Dow Breaks 40,000 Before Falling, GameStop Plunges for Consecutive Days

All three major U.S. stock indexes hit intraday record highs but closed lower. $Meta Platforms(META.US)$ fell 1.7%, chip stocks and $NVIDIA(NVDA.US)$ ended a four-day winning streak, and meme stock $GameStop(GME.US)$ dropped 30%.

After the release of unemployment and other economic data, the 10-year Treasury yield, which hit a nearly six-week low intraday, reversed and rose. The dollar index, which had hit a five-week low, accelerated its rebound. Bitcoin surged past $66,000 intraday before falling over $2,000 and turning negative. $Coinbase(COIN.US)$ $Digital Currency(LIST20010.US)$ $Spot Bitcoin ETF(LIST21030.US)$ $Bitcoin Futures ETF(LIST21056.US)$

Oil prices rose for the second consecutive day, with WTI hitting a one-week high. Gold turned negative intraday, ending a run above a three-week high. LME copper rose 2%, reaching a two-year high, while NY copper, after rising nearly 2% intraday, turned negative and fell from a two-year high.

$S&P 500 Index(.SPX.US)$ $Nasdaq Composite Index(.IXIC.US)$ $Dow Jones Industrial Average(.DJI.US)$ $ProShares UltraPro QQQ ETF(TQQQ.US)$ $E-mini Dow Futures(JUN4)(YMmain.US)$ $Crude Oil Futures(JUL4)(CLmain.US)$ $SPDR Gold ETF(GLD.US)$

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