Adviser Investments Chief Investment Officer Jim Lowell has the market analysis for Friday, May 10. All major U.S. indexes closed the day with slight gains to reverse a five-day losing streak. The Dow Jones Industrial Average and S&P 500 rose 0.4% and the and NASDAQ Composite gained 0.1%. Similarly, the Shanghai Composite Index advanced 3% as investors in both the U.S. and China expressed optimism that trade negotiations are continuing—despite the 12:01 a.m. tariff increase on $200 billion of Chinese goods. Meanwhile, Uber launched its much-anticipated I.P.O. as its stockA financial instrument giving the holder a proportion of the ownership and earnings of a company. fell more than 7% in intra-day trading, with the company’s valuation falling from $75.5 billion to $69.7 billion.
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