Brian Mackey, deputy director of research at Adviser Investments, has the market analysis for Thursday, May 2. Major U.S. stockA financial instrument giving the holder a proportion of the ownership and earnings of a company. indexes declined slightly for the second consecutive day. Both the Dow Jones Industrial Average and S&P 500 fell 0.5% and the NASDAQ Composite declined 0.2% due, in part, to trade-negotiation uncertainty. Although both the U.S. and China have expressed optimism for a final agreement, there are concerns it will address neither cybersecurity concerns nor Chinese industrial subsidies. Meanwhile, Tesla made headlines with its $2 billion capital infusion plan, $10 million of which will be funded by Co-founder and CEO Elon Musk. Tesla’s stock surged 4% on the news, with shareholders welcoming the announcement following Tesla’s first-quarter earnings miss.
Adviser Investments' logo is a registered trademark of Adviser Investments, LLC.