Econ Recaps
Econ Recaps
Corben Benda
Market TANKS on NEW Covid Variant, what you missed in the markets// May 23rd Recap
7 minutes Posted May 24, 2023 at 1:41 am.
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Good evening, investors! Here's a quick recap of today's stock market: The S&P 500 closed down by 1.12% at $4,145.58. Exxon Mobil and Chevron were up, with Chevron announcing a deal to buy PDC Energy. Exxon Mobil plans to mine lithium. A new strain of Covid-19 was found in China. Vaccine makers saw an 8% increase, while casino hotels were down by 5%. In other news, Florida Governor Ron DeSantis will announce his bid for the presidency. Microbot issued more shares, Virgin Orbit was sold after bankruptcy, and Netflix is cracking down on password sharing. Waymo and Uber will launch autonomous taxis in Phoenix. Binance mixed customer funds with company revenues. Economic news: New home sales were up 4.1%, S&P Global's PMI showed mixed results, and building permits were down 1.4%. That's it for today!