A recent report from NBC News indicates that stock indexes posted a strong and resilient performance in May following encouraging numbers from the federal resource inflation gauge.
“The blue-chip Dow rose 574.84 points, or 1.51%, to 38,686.32, led by gains of 7.5% and 2.8% in Salesforce and UnitedHealth, respectively. The S&P 500 added 0.80% to 5,277.51. The Nasdaq Composite Index lost 0.01% to 16,735.02 as Nvidia and several other large tech stocks took a hit.”
“The S&P 500 and Nasdaq fell 0.51% and 1.1%, respectively, halting five weeks of gains. The blue-chip Dow fell 0.98%, its second straight weekly decline.”
“Despite a tough week, May was a winning month with all major indexes posting positive results for the sixth straight month out of seven. The Dow is up 2.3% for the month, while the S&P 500 is up 4.8%. The Nasdaq is up 6.88%, its highest close since November.
“‘Markets are going to remain volatile,’ said Quincy Krosby, chief global strategist at LPL Financial, citing variables such as the upcoming election, Treasury yields and consumer spending. The question is, ‘Where are we heading? Where is the economy headed?'”
To read the full story from NBC News, click here.
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