Market Week: May 27, 2024
The Markets (as of market close May 24, 2024)
Tech shares, particularly AI stocks, helped push the Nasdaq, and to a much lesser extent, the S&P 500
higher last week. The Dow, the Russell 2000, and the Global Dow declined. During a week when volume
was relatively light, investors latched onto favorable corporate earnings data from some major tech and AI companies. Among the market sectors, only information technology and communication services closed higher. Real estate and energy fell the furthest. Treasury yields inched higher, while crude oil prices fell 2.74%, yet remain up 9.1% year to date. Gold prices, which had been soaring, had their worst week in a while, although they are up nearly 13.0% from the beginning of the year.