News of slower job growth, slowing wage growth, and a slight uptick in unemployment helped drive down Treasury yields, and stocks finished the short week with a strong rally
Gerry Sparrow
122 posts
Stocks edged higher over the four trading days last week, with the three major averages taking turns leading based on various economic and artificial intelligence (AI) news
Stocks notched a solid gain last week, driven by the Fed’s decision, May's inflation report, and Apple’s AI-related news.
Stocks edged lower in the final week of May as fresh news on economic growth and inflation failed to inspire investors.
One of the handful of companies bucking the trend last week was Nvidia. The company reported that its Q1 sales tripled from a year ago.
A cooler-than-expected Consumer Price Index (CPI) report sparked a broad-based rally as the upbeat news raised investors’ hopes for a rate cut.
Stocks notched a solid gain last week as rate-cut expectations paced the rally as the Q1 earnings season wound down.
Stocks notched a solid gain last week, rallying behind upbeat earnings, a dovish Fed, and mixed economic data.
Despite sticky inflation, the Fed reiterated that rate cuts were still on the table for this year, while several leading money center banks forecasted lower growth for the remainder of 2024 due partly to inflation and higher-than-expected rates.
Fed officials' mixed comments on interest rates led to a volatile week for stocks, with all three major averages ending the day down over 1% for the first time in a month.
Stocks experience a narrow gain, driven by mixed economic news and a rebound in durable goods orders.