The Week of May 6, 2024
Stocks ended on a positive note for the week of May 6 as investors had very few catalysts to shake the resolve of upward momentum ahead of key consumer and wholesale inflation guages in the week to come.
For the week, the Dow Jones Industrial Average rose 2.2%, the S&P 500 advanced 1.9%, and the tech-heavy Nasdaq climbed 1.1%. In bondland, U.S Treasury yields were mixed for the week, with the 2-year yield climbing 6.2 basis points to 4.866%, the 10-year yield barely advancing to 4.503%, and the 30-year yield declining 1.6 basis points to 4.645%.
Chart Source: Wells Fargo Investment Institute, "Looking Ahead," May 10, 2024.
Below is an inventory of our Daily Market Commentary for the Week of May 6:
- Monday, May 6 - The Week Ahead. U.S. stocks traded in positive territory on Monday afternoon as rate-cut hopes endure and corporate earnings remain in focus for the week ahead...Read More.
- Tuesday, May 7 - Drifting. U.S. stocks finished mixed on Tuesday as Wall Street digested corporate earnings...Read More.
- Wednesday, May 8 - No Commentary.
- Thursday, May 9 - Upbeat. U.S. stocks finished higher on Thursday as jobless claims data boosted Fed rate-cut hopes...Read More.
- Friday, May 10 - Winning Streaks. U.S. stocks are trading in mixed territory heading into the final hour of trade as all three major indexes look to post weekly gains...Read More.
