May 28, 2024

Fifth Weekly Gain for S&P 500

Latest Publications Fifth Weekly Gain for S&P 500

September Rate Cut Odds Now Even

U.S. stocks were mostly higher last week, while the Dow Jones Industrial Average (DJIA) ended negative after falling 600 points last Thursday, its worst daily performance in over a year. The Dow-30’s rout was sparked by a notably stronger-than-expected early May reading of U.S. business activity, which prompted renewed fears for higher for longer interest rates. Meanwhile, the broader equity indices posted weekly gains, cheering solid street-beating quarterly results from Wall Street’s leading artificial intelligence chipmaker.

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The Weekly Recap is published by Cetera Investment Management LLC, an SEC registered adviser owned by Cetera Financial Group. Cetera Investment Management provides market perspectives, portfolio guidance, model management, and other investment advice to its affiliated broker-dealers, dually registered broker-dealers and registered investment advisers.