The Week of May 13, 2024
Stocks ended in the green for the week of May 13 as investor sentiment lifted following the release of the Consumer Price Index (CPI). The gauge of consumer inflation revealed that inflation fell to 0.3% month-over-month in April; estimates were for 0.4%.
For the week, the Dow Jones Industrial Average rose 1.2% and finished over 40,000 for the first time. The S&P 500 advanced 1.5% and the tech-heavy Nasdaq climbed 2.1%. In bondland, U.S Treasury yields were lower for the week. The 2-year yield dropped 4.4 basis points to 4.822%, the 10-year yield fell 8.4 basis points to 4.419%, and the 30-year yield declined 8.5 basis points to 4.560%.
Chart Source: Wells Fargo Investment Institute, "Looking Ahead," May 17, 2024.
Below is an inventory of our Daily Market Commentary for the Week of May 13:
- Monday, May 13 - The Week Ahead. U.S. stocks finished in mixed territory on Monday as investors awaited key inflation data this week...Read More.
- Tuesday, May 14 - Inflation and Memes. U.S. stocks finished in positive territory on Tuesday as wholesale inflation was higher than expected...Read More.
- Wednesday, May 15 - Cooling All Around. U.S. stocks traded firmly in positive territory on Wednesday afternoon as April consumer inflation data eased and retail sales were unchanged...Read More.
- Thursday, May 16 - 40,000. U.S. stocks finished in negative territory on Thursday as all three major stock indexes reached new heights during the week...Read More.
- Friday, May 17 - "Everything Rally." U.S. stocks finished mixed on Friday as markets take a break heading into the weekend...Read More.
