May 30th 2021
U.S. stocks finished the week in positive territory. The Dow Jones Industrial Average gained 0.9% over the week to close at 34,529.45. The S&P 500 recorded a weekly gain of 1.2% and finished at 4,204.11, sitting just 0.8% from its record high. Both benchmarks broke a two-week losing streak. The Nasdaq ended at 13,748.74 and increased 2.1% over the past week. For the month of May, the 30-stock Dow and the S&P 500 gained 1.9% and 0.6%, respectively, posting their fourth up month in a row. The tech-heavy Nasdaq, however, suffered a 1.5% loss this month for its first negative month in seven. Most key S&P sectors ended in positive territory for the week, led by the discretionary sector; the utilities sector led decliners. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, closed near 16.8.