Reported 4 months ago
The Dow and S&P 500 saw significant gains with the Dow recording its biggest daily percentage increase since November 2023, driven by late-month repositioning. The major indexes closed strong for May, with the energy sector up 2.5% and the technology sector slightly down. U.S. personal consumption expenditures (PCE) price index showed a 0.3% increase, signaling consumer spending slowdown, while traders bet on Fed rate cuts in September and December. The S&P 500 rose 4.8% for the month, the Nasdaq 6.9%, but both fell for the week along with Dell's shares dropping 17.9% and Gap surging 28.6% after a successful first quarter.
Source: YAHOO