DNMR - Wall Street Breakfast: What Moved Markets

Listen on the go! A daily podcast of Wall Street Breakfast's Alpha Talks will be available this morning on Seeking Alpha, iTunes, Stitcher and Spotify. Stocks bounced back on Friday following a pair of strong U.S. economic reports and as investors reassessed concerns from news the previous day that the Biden administration could seek a big boost to capital gains taxes for the rich. The S&P 500 advanced 1.1%, led by financial and tech shares, while the tech-heavy Nasdaq jumped 1.4% and the Dow Jones lagged with a 0.7% gain. Homebuilding stocks were a tower of strength, as data showed U.S. new-home sales rebounding sharply in March to the highest since 2006, and a measure of output at U.S. manufacturers and service providers reached a record high in April. For the week, the S&P, Dow and Nasdaq all closed with small losses Up in smoke Tobacco stocks like Altria (MO)

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Wall Street Breakfast: What Moved Markets