Stock indices indicated that the month of May saw strong and resilient performance following a promising Federal Resource inflation indicator reading, according to a recent report by NBC News:
“The blue-chip Dow climbed 574.84 points, or 1.51%, to 38,686.32, lifted by Salesforce and UnitedHealth’s respective advances of 7.5% and 2.8%. The S&P 500 added 0.80% to 5,277.51. The Nasdaq Composite ticked lower by 0.01% to 16,735.02, as Nvidia and a few other megacap technology stocks took a hit.
“The S&P 500 and Nasdaq snapped five-week win streaks with slides of 0.51% and 1.1%, respectively. The blue-chip Dow slipped 0.98%, marking a second straight week of losses.
“Despite the tough week, it was a winning May, with each of the major benchmarks registering a sixth positive month in seven. The Dow added 2.3% this month, while the S&P 500 rose 4.8%. The Nasdaq gained 6.88%, notching its best month going back to November.
“’The market is going to remain choppy,’ said Quincy Krosby, chief global strategist at LPL Financial, citing variables such as the upcoming election, Treasury yields and consumer spending. ‘There are questions as to: Where are we headed? Where’s the economy headed?’”
To read the entire article by NBC News, please click HERE.