economy
Friday's Big Stock Stories: What’s Likely to Move the Market in the Next Trading Session
The Dow Industrials jumped more than 270 points to notch a new closing record on Thursday. Oil prices retreated, giving stocks a tailwind.
TL;DR
- Biotech indexes are showing varied performance heading into the American Society of Clinical Oncology meeting.
- The NYSE Arca Biotechnology Index has gained nearly 4% in May but is down from its January high.
- The SPDR S&P Biotech ETF is up 1% in May and has gained 67% in the past year.
- Real estate is the best-performing sector this week, adding about 3% in four days.
- Quantum computing companies saw their shares jump after the U.S. government announced $2 billion in funding.
- Rigetti Computing, Quantum Computing, D-Wave Quantum, IonQ, Arqit Quantum, and IBM all experienced significant stock price increases.
- CNBC will provide full coverage of the American Society of Clinical Oncology meeting.