The Dow and S&P 500 snapped four-day losing streaks
Stocks kicked off the last week of May with resounding gains across the board. The Dow added over 740 points, while the S&P 500 made a renewed run at 6,000, with both indexes snapping four-day losing streaks. The tech-heavy Nasdaq also gapped higher, as investors breathed a sigh of relief following the delayed European Union (EU) tariffs.
Increased optimism was palpable through the May's consumer confidence index, which rose for the first time since November for its biggest monthly gain since March 2021. And even though bond yields remain cautiously higher, Wall Street's "fear gauge," the Cboe Volatility Index (VIX), retreated back below 20.
Continue reading for more on today's market, including:
- Why traders should take big swings every now and then.
- A downgrade couldn't stop this Wall Street newbie.
- Plus, Salesforce makes a move; a grocery stock to target; and HOUN's newest fan.
5 Things to Know Today
- Trouble in paradise: President Trump, Vladimir Putin at odds. (Wall Street Journal)
- Japan is moving quickly to stabilize its debt market. (Reuters)
- Options impact of Salesforce's Informatica purchase.
- Buy the dip on this grocery stock.
- AI stock gets overdue upgrade as shorts bail.
Gold Losing its Luster as Consumers Regain Theirs
Oil prices extended their rut today, as expectations grew for an output increase at the Organization of the Petroleum Exporting Countries & allies (OPEC+) meeting later this week. June-dated West Texas Intermediate (WTI) shed 64 cents, or 1%, to settle at $60.89 per barrel.
Broad market tailwinds weighed on safe-haven assets today. June-dated gold futures lost 1.9% to finish at $3,300.40 per ounce.