Stocks shook off Wednesday's swoon and staged a comeback on Thursday as all three major indexes ratcheted gains.
 | THU, MAY 13, 2021 | | | | DOW | | NAME | LAST | CHG | %CHG | | AAPL | 124.97 | +2.20 | +1.79% | | MSFT | 243.03 | +4.03 | +1.69% | | INTC | 54.01 | +0.39 | +0.73% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | AAPL | 124.97 | +2.20 | +1.79% | | GE | 12.97 | +0.15 | +1.17% | | F | 11.55 | +0.22 | +1.94% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AAPL | 124.97 | +2.20 | +1.79% | | AMD | 73.09 | -1.55 | -2.08% | | TSLA | 571.69 | -18.20 | -3.09% | |
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Stocks shook off Wednesday's swoon and staged a comeback on Thursday as all three major indexes posted gains. The S&P 500 rose 1.2%, ending the day at 4,112.50. Meanwhile, the tech-heavy Nasdaq Composite jumped 0.7% to reach 13,124.99. Finally, the Dow Jones Industrial Average – after plummeting 680 points the day before – scooped up 433.79 points, hitting 34,021.45.  Of the three major indexes, the 30-stock Dow is the only one with a gain for the month of May; it's up about 0.4%. Recovery-geared names like Home Depot, along with financials Travelers and JPMorgan Chase were among its leaders Thursday. In the background amid this bounce in stocks is a lingering concern on the minds of market pros: What's happening with inflation? Art Cashin, director of floor operations at the New York Stock Exchange for UBS, told CNBC's Bob Pisani that it's too soon to know if the Federal Reserve was right on higher prices being temporary. "I don't think we can prove this is transitory yet," Cashin said. The risk is that if the central bank falls behind, it could react in a way that harms the market and the economy, he added. "The market will tolerate it for a while, but if they think the train has left, things could get very dangerous in the stock market," Cashin said. |
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