Blog – Stock Market Analysis and Commentary for the WE May 12, 2023 Summary: U.S. stocks closed lower on Thursday dragged down by Disney as the company reported a sharp decline in subscribers, while concerns around regional banks once again grew, denting investors’ confidence. The S&P 500 and Dow ended in negative territory but the Nasdaq closed in the green. How Did The Benchmarks Perform? The Dow Jones Industrial Average (DJI) fell 0.7% or 221.82 points to finish at 33,309.51 points. The S&P 500 declined 0.2% or 7.02 points to end at 4,130.82 points. Energy, utilities and materials stocks were the worst performers. ]The Energy Select Sector SPDR (XLE) and Utilities Select Sector SPDR (XLU) declined 1.2% and 1%, respectively. The Real Estate Select Sector SPDR (XLRE) and Materials Select Sector SPDR (XLB) also lost 1% each. Eight of the 11 sectors of the benchmark index ended in negative territory. The tech-heavy Nasdaq rose 0.2% or 22.06 points to close at 12,328.50 points. The fear-gauge CBOE Volatility Index (VIX) was down 0.06% to 16.93. Decliners outnumbered advancers on the NYSE by a 2.27-to-1 ratio. On Nasdaq, a 1.67-to-1 ratio favored declining issues. A total of 10.05 billion shares were traded on Thursday, lower than the last 20-session average of 10.69 billion. Source: https://ca.finance.yahoo.com/news/stock-market-news-may-12-133001363.html