May 13, 2024

Stocks Extend May Gains

Latest Publications Stocks Extend May Gains

Markets Drift Higher

Equity markets extended May gains last week, rebounding from April’s correction. The S&P 500 finished positive for the third straight week, pushing the month-to-date increase to 3.77%. The Dow extended its streak of gains to eight on Friday. Last week was fairly limited for key economic releases, however there were a few notable misses including jobless claims rising to an 8-month high and consumer sentiment falling more than expected. Despite these misses, investors remained upbeat because earnings season has been stronger than expected.

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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.