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Stocks Recovering After Rough Week

May has been a rocky month for investors all around. Traditional investors and traders suffered from general stocks looking bearish for the weak. On the flip side, crypto holders saw losses across the board on both Bitcoin and less standard coins. As such, many are feeling stressed as they see their portfolios turn red. There doesn’t seem to be much reason to worry, however, as global markets seem to have shown some reason for optimism.

The key thing to watch for is the movement of vital US indexes. For example, The Dow Jones Industrial Average went up by 37.8 points. That translates to a  0.11% increase on Friday alone. The S&P 500 performed even better, rising 9.5 points which signifies a 0.23% growth. Lastly, Nasdaq Composite was the big winner with a 80.4 point rise. When you translate that to percentages, you get a 0.59% increase.

The broad growth seems to have calmed the nerves of investors somewhat. In the face of broader vaccinations and reopenings, markets seem to have recovered. However, there’s still no room for recklessness, as the stock market is still under pressure.

Cryptocurrency markets also seem to be showing some recovery after Wednesday’s tumble. The fall came after the Treasury Department’s announcement. It stated that businesses would need to report crypto earnings to the Internal Revenue Service. That triggered a mass selloff, assumedly from businesses that held and investors that predicted they’d sell. However, Jerome Powell stated that the central bank would explore the use of a digital dollar in the summer.

Asian stocks also showed somewhat of a mixed performance. The CSI 300 index fell by 1%, while TAIEX (Thailand) rose 1.6%. As for specific stocks, Ross Stores grew by an unexpected 1.1%, Palo Alto Networks rose by a significant 5%. Cisco Systems wasn’t as fortunate, dropping 0.7%.

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