Overnight Market Brief – 30 August 2021
Energy stocks led the S&P 500, after being among the hardest hit on Thursday. Occidental Petroleum climbed +6.9% and APA Corp rose +5.9%. Automakers got a boost with Ford and General Motors rising 3% and 2%, respectively. Travel stocks, including air carriers, cruise lines and hotels were lifted as well. The Invesco Dynamic Leisure and Entertainment ETF gained +2.27%. Shares of Workday (+9.1%) surged after reporting strong currently earnings and subscription revenue that jumped 23% from last year, while Peloton (-8.5%) shares dropped after the exercise equipment company’s fourth-quarter financial results missed Wall Street estimates.