What Happened Last Week | June 2, 2025

The S&P 500 gained 1.87 percent, the Nasdaq Composite Index gained 2.01 percent and the Dow gained 1.60 percent.^1,2

EU Trades Spark Stocks

Financial markets were hot out of the gate on Monday responding to news that the European Union agreed to speed up trade talks with the U.S. By the end of the session, the S&P 500 and Nasdaq posted gains north of 2 percent.³

Stocks fell following Wednesday’s release of minutes from the Fed meeting in May, which showed Fed officials are cautious. A common fear was that we might see an increased inflation rate and unsteady labor markets due to trade-related economic uncertainty.^4,5

On Friday, stocks were flat despite the White House accusing China of violating its trade deal. The end of last week also ended the month of trading in May. The S&P 500 added 6.2 percent and the Nasdaq 9.6 percent for the month, their best since November 2023.⁶

Inflation In Focus

The Fed’s preferred inflation measure—the Personal Consumption and Expenditures (PCE) Index—was released on Friday, showing only a modest uptick in prices in April.⁷

PCE increased 0.1 percent for the month, putting the annual rate at 2.1 percent—the lowest since September 2024. 

On the Expenditures side, the report shows a higher consumer saving rate as they navigate economic uncertainty.⁸

Economic Data To Watch

Monday: ISM Manufacturing. Construction Spending. Dallas Fed President Lorie Logan speaks.

Tuesday: Factory Orders. Job Openings.

Wednesday: ADP Employment Report. ISM Services. Fed Beige Book.

Thursday: Trade Deficit. Productivity Gains.

Friday: Employment Report. Consumer Credit.

^{Source: Investors Business Daily - Econoday economic calendar; May 30, 2025
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 be providing accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts also are subject to revision.}

Upcoming Earnings Reports

Tuesday: CrowdStrike (CRWD), Hewlett Packard Enterprise Company (HPE)

Thursday: Broadcom Inc. (AVGO)

^{Source: Zacks, May 30, 2025. 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 own goals, time horizon, and tolerance for risk. 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 when they report earnings without notice.}

Footnotes and Sources

^{1. WSJ.com, May 30, 2025}

^{2. Investing.com, May 30, 2025}

^{3. WSJ.com, May 27, 2025}

^{4. CNBC.com, May 28, 2025}

^{5. CNBC.com, May 29, 2025}

^{6. WSJ.com, May 30, 2025}

^{7. MarketWatch.com, May 30, 2025}

^{8. MarketWatch.com, May 30, 2025}

^{Source: YCharts.com, May 31, 2025. Weekly performance is measured from Friday, May 23, to Friday, May 30. 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.}