FINANCIAL STOCK MARKET  WEEK "S&P 500 and the Nasdaq advanced for the fourth straight week" Market Week: May 20, 2024 

The Markets (as of market close May 17, 2024)

Both the S&P 500 and the Nasdaq advanced for the fourth straight week, which is the first time that has happened since February.  Not to be outdone, the Dow advanced for a fifth straight week.  Much of the week's focus was on inflation data (see below).  Investors will now look to responsive comments from Federal Reserve officials for any potential changes in interest rate expectations.  Information technology and real estate led the market sectors, while consumer discretionary and industrials closed in the red.  The dollar slipped nearly 0.75% against a basket of currencies. Gold prices advanced over 2.0% for the week and nearly 17.0% for the year.  Crude oil prices climbed more than $1.00 per barrel.

Wall Street ended last Monday with mixed results.  The Dow ended its winning streak at eight days after falling 0.2%. The S&P 500 declined less than 0.1%.  The Nasdaq rose 0.3%.  The Global Dow gained 0.2%, while the Russell 2000 inched up 0.1%. Ten-year Treasury yields dipped to 4.48%.  Crude oil prices gained $0.93 to $79.19 per barrel.  The dollar (-0.1%) and gold prices (-1.3%) declined.

Last Tuesday saw stocks end higher ahead of the release of Wednesday's Consumer Price Index. The Russell 2000 led the benchmark indexes listed here, climbing 1.2%, followed by the Nasdaq (0.8%), the S&P 500 (0.5%), the Global Dow (0.4%), and the Dow (0.3%).  The yield on 10-year Treasuries fell 3.6 basis points to 4.44%.  Crude oil prices dipped $1.00 to $78.14 per barrel.  The dollar fell 0.2%, while gold prices advanced 0.8%.

Stocks rallied last Wednesday with the Nasdaq, the Dow, and the S&P 500 closing at record highs.  Investors were buoyed by a softer Consumer Price Index, which showed inflation slowed somewhat in April.  The Nasdaq gained 1.4%, the S&P 500 advanced 1.2%, and the Russell 2000 climbed 1.1%.  The Dow rose 0.9% and the Global Dow gained 0.8%.  Ten-year Treasury yields fell 8.9 basis points to 4.35%. Crude oil prices rose to $78.84 per barrel, up $0.82.  The dollar fell 0.7%, while gold prices climbed 1.4%.

After reaching record highs on Wednesday, the Nasdaq (-0.3%), the S&P 500 (-0.2%), and the Dow (-0.1%) dipped lower on Thursday.  The Russell 2000 fell 0.6% and the Global Dow slipped 0.1%.  Ten-year Treasury yields closed the session at 4.37% after gaining 2.1 basis points.  Crude oil prices rose $0.66 to $79.29 per barrel.  The dollar ticked up 0.2%, while gold prices fell 0.6%.

Stocks ended the week with mixed results.  The Dow (0.3%) closed at a new record high.  The S&P 500 and the Global Dow ticked up 0.1%, while the Nasdaq fell 0.1%.  The Russell 2000 dipped less than 0.1%.  Yields on 10-year Treasuries gained 4.3 basis points to close the day and the week at 4.42%.  Crude oil prices rose $0.72, the dollar was flat, while gold prices climbed 1.4%.

• STOCK MARKET INDEXES
• LAST WEEK'S ECONOMIC NEWS
• EYE ON THE WEEK AHEAD

Wendy Nelson, CEO of Wind River Wealth Advisors, aims to provide beneficial investment management, retirement planning, financial planning, asset management, and portfolio management to protect your money with knowledgeable strategies and plans by utilizing a personal independent financial advisor.