Dow Extends May Takeover, Closes Above 40k

The Dow continued its song of success for May this week. The blue-chip index closed above 40,000 for the first time ever today after a triple digit pop, which also helped secure a fifth-consecutive weekly gain. The S&P 500 and Nasdaq also posted weekly wins, their fourth straight, though the latter fell today. After investors unpacked inflation data throughout the week, Wall Street's "fear gauge," the Cboe Volatility Index (VIX) logged its lowest close since November 2019.



Earnings 0517



On the heels of Chinese and U.S. economic data, June-dated West Texas Intermediate (WTI) crude surged above the $80 mark for the first time this month. Oil added 83 cents, or 1.1%, at $80.06 a barrel on the day, and climbed 2.2% for the week.

Gold futures moved higher on weakness in the greenback. June-dated gold tacked on $31.90 or 1.3%, to finish the day at $2,417.40, and the week up 3.2%.

More By This Author:

Stocks Flat As Market Heads For Winning Week
Wall Street Closes Historic Day On A Down Note
Dow Breaks Above 40,000 For First Time Ever

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.