NEW YORK (Pakistan Point News / Sputnik - 29th May, 2021) US stocks, except those from the technology sector, posted a four straight month of gains on Friday as investors defied the "Sell-in-May-and-Go-Away" phenomenon amid rapid economic recovery from the coronavirus pandemic.
The Dow Jones Industrial Average, the broadest US equity barometer, closed at 34,530 points, up 1.9 percent for May as trading settled for the month ahead of Monday's Memorial Day.� It was, however, the smallest gain over the past four months for the Dow, which rose as much as 6.6 percent in March.
The S&P 500, which groups the top 500 stocks on the New York Stock Exchange, closed at 4,205 points, up 0.6 percent for May. Like the Dow, it was also the smallest monthly gain for the S&P, which posted a win as big as 4.2 percent in March.
�The Nasdaq Composite index, which includes high-flying tech stocks such as Facebook, Amazon, Apple, microsoft, Netflix and Google, closed at 13,749 points, down 1.5 percent for May. It was the first monthly loss since November for the technology bellwether. Nasdaq jumped nearly 12 percent in November, in a positive run that lasted till April.
