On Monday, May 20, 2024, the tech sector played a significant role in driving the Nasdaq to a record intraday high, while the S&P 500 also saw gains. However, the Dow experienced a slight decline on the same day. Cruise stocks, particularly Norwegian Cruise Line Holdings, saw substantial gains in the S&P 500 after the company raised its full-year guidance due to strong demand. Other cruise operators like Carnival and Royal Caribbean Cruises also experienced increases in their stock prices.
In other news, Jabil, an engineering and manufacturing company, saw its stock rise after announcing the permanent CEO appointment of Michael Dastoor. This announcement came after the company completed an investigation into its corporate policies and made other executive changes. Meanwhile, telehealth company Hims & Hers Health saw a significant surge in its stock price after revealing plans to start offering access to GLP-1 injections as part of its weight-loss prescriptions. The company aims to provide customers with an alternative to branded medications like Ozempic and Wegovy, which are currently facing shortages and high costs.