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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