The S&P 500 advanced 1.43%, while the Nasdaq gained 2.39%. The Dow Jones Industrial Average climbed 0.90%. The MSCI EAFE Index, which tracks developed overseas stock markets, rose 0.99 percent.1,2
More Gains for S&P
Stocks got off to a good start as the chipmaker-led rally continued to support the broader market, while the White House reported diplomatic progress on a Middle East peace deal.3
Leadership shifted a bit midweek, with the Dow rising modestly to a new record close as oil prices fell.4
The S&P and Nasdaq opened higher Thursday on upbeat economic news. Both posted solid gains, while the Dow Industrials went sideways.5
Stocks wrapped up the week and the month on positive notes. Sliding oil prices and technology gains helped push all three averages to record intraday and closing highs, including the Dow cracking the 51,000 mark for the first time.6
April Data Reflects A Moderate Economy
It was a mixed bag of economic news last week, with four key April data points released on Thursday.
The Fed’s preferred inflation measure came in cooler than expected. The personal-consumption expenditure (PCE) index rose 0.4 percent in April, less than the 0.5 percent expected. Annual PCE rose 3.8 percent.7
The Gross Domestic Product report showed the economy grew more slowly in Q1 than initially estimated, with the estimate revised down to 1.6 percent annualized growth.7
In a good sign for manufacturing, durable goods orders rose 7.9 percent in April, double the expected pace and the biggest increase in almost a year. The main reason? Civilian aircraft orders soared 166 percent after China ordered 200 planes following a recent U.S.-China presidential summit.8
Homebuyers bought 6.2 percent fewer new homes in April over the prior month. But investors focused on the fact that homebuyers bought 8.9 percent and 7.4 percent more new homes in February and March, respectively, over the prior month.9
Economic Data To Watch
Monday: ISM Manufacturing. Construction Spending. Auto Sales. Minneapolis Fed President Neel Kashkari speaks in South Korea.
Tuesday: Job Openings. Cleveland Fed President Beth Hammack speaks.
Wednesday: ADP Employment Report (private sector hiring). Factory Orders. ISM Services. Fed Beige Book. Fed governor Michael Barr speaks.
Thursday: Weekly Jobless Claims. Productivity. Richmond Fed President Tom Barkin speaks.
Friday: Federal Employment Report. Consumer Credit.
Source: Investors Business Daily - Econoday economic calendar; May 29, 2026. The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to provide accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts are also subject to revision.
Upcoming Earnings Reports
Monday: Hewlett Packard Enterprise Company (HPE)
Tuesday: Palo Alto Networks, Inc. (PANW)
Wednesday: Broadcom Inc. (AVGO), CrowdStrike (CRWD), Medtronic (MDT)
Thursday: Ciena Corporation (CIEN)
Source: Zacks, May 29, 2026. Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Investing involves risks, and investment decisions should be based on your goals, time horizon, and risk tolerance. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule their earnings reports without notice.
Footnotes And Sources1. WSJ.com, May 29, 2026
2. Investing.com, May 29, 2026
3. CNBC.com, May 26, 2026
4. CNBC.com, May 27, 2026
5. WSJ.com, May 28, 2026
6. CNBC.com, May 29, 2026
7. WSJ.com, May 28, 2026
8. KPMG.com, May 28, 2026
9. Realtor.com, May 28, 2026
Source: YCharts.com, May 30, 2026. Weekly performance is measured from Friday, May 22 to Friday, May 29. TR = total return for the index, which includes any dividends as well as any other cash distributions during the period. Treasury note yield is expressed in basis points.