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01.05.2020 S&P 500 Daily Analysis

S&P 500 closed at $2,912.43 (-0.92%). Although S&P 500 ended the month in the red, it was the best month since January 1987. S&P 500 gained nearly 13% this

01.05.2020 S&P 500 Daily Analysis
Yazar: editor_1

Yayınlanma: 1 Mayıs 2020 18:59

Güncellenme: 5 Kasım 2024 18:54

01.05.2020 S&P 500 Daily Analysis

S&P 500 closed at $2,912.43 (-0.92%). Although S&P 500 ended the month in the red, it was the best month since January 1987. S&P 500 gained nearly 13% this past month, bringing it to a total of 30% since March 23 despite the economic turmoil due to the pandemic. With its top performers Amazon (+4.26%) and Apple (+2.11%) benefiting from the world being on lockdown, Apple's revenue grew by nearly 1% in the last 3 months. Many analysts were surprised by just how much S&P 500 rallied during this period amidst bad economic data.  Julian Emanuel, chief equity and derivatives strategist BTIG said, “Frankly, I’m shocked by the speed of the rally.”
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