Stock Market News: Southwest Expects May Pain; Enphase Gets Energized
Investors have enjoyed a big bounce from the recent lows after the lightning bear market of February and early March, as they've balanced hopes against fears about what the consequences of the coronavirus pandemic on the global economy will be. Optimism sent share prices generally higher at the open, but later in the morning, a more somber mood crept in among market participants. Just before 11 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 42 points to 24,176, and the S&P 500 (SNPINDEX: ^GSPC) rose 2 points to 2,880. However, the Nasdaq Composite (NASDAQINDEX: ^IXIC) moved lower by 58 points to 8,672.
News among individual stocks was similarly mixed. Southwest Airlines (NYSE: LUV) foresees a painful month in May as airlines try to adapt to what the next stage of the pandemic might look like. Meanwhile, Enphase Energy (NASDAQ: ENPH) got good news that lifted its shares in anticipation of its quarterly report next week.
Southwest Airlines saw its stock fall nearly 2% Tuesday morning. That's not a violent move for a stock that's lost half its value in the past few months, but the latest operational news from the airline didn't inspire much confidence among investors.
Source Fool.com