Daily Market Recap -
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Updated Each Business Day at Approximately 4:30 pm ET
US stock markets started the week with investor enthusiasm following the first round of France's presidential election, in which centrist Emmanuel Macron advanced to the final round of voting on May 7th. The Dow Jones Industrial Average was boosted by financials JPMorgan Chase and Goldman Sachs Group, which closed up 3.5 and 3 percent, respectively. The Financial Times reported Albertsons was considering a Whole Foods takeover bid, sending Whole Foods shares 2 percent higher. Shares of Hasbro climbed 5.9 percent after the toy maker said its net earnings rose to $48.8 million, or $0.54 per share, in Q1'17, on revenue of $849.7 million, beating street expectations.

The Dow 30 rallied 216.13 points to 20703.89, the S&P 500 gained 25.46 points to 2374.15, and the NASDAQ added 73.30 points at 5983.82. The Dow Jones Utility Index was 3.02 points higher at 709.03, while the Dow Transports jumped 149.18 points to 9282.99. Russell 2000 small caps ended the session at 1398.23, up 18.37 points. 906 million and 467 million shares were traded on the New York Stock Exchange and NASDAQ, respectively. Advancers bested decliners on both the NYSE and NASDAQ 5 to 2.

Investor relief over the French election added strength to the US dollar versus the yen, but put gold futures in the red. Gold for June delivery settled at $1277.50 per ounce, down 0.9 percent. Oil futures were dampened by concerns over increasing US production and, according to MarketWatch, "the ability of OPEC to achieve an extension of a program of production curbs." June WTI crude settled at $49.23 per barrel, off 0.8 percent. Recent Treasury yields: 1.2 percent for the 2-year note, 1.8 percent for the 5-year note, 2.3 percent for the 10-year note, and 2.9 percent for the 30-year bond.

-- Clients with questions concerning this Afternoon Comment are advised to contact Amanda Collier at 1-800-444-1854 x8820 or (502) 588-8820. Members of the media are advised to contact Gary England at 1-800-444-1854 x1738 or (502) 588-1738. --