Last Week Stock Market Summary (May 5th, 2024 - May 10th, 2024)
U.S. stock markets closed out the week with modest gains, extending a three-week winning streak. Here's a breakdown of the major indexes:
- S&P 500: Up 1.9% for the week, closing at 5,222.68. This puts the index close to its record high set earlier this year.
- Dow Jones Industrial Average: Gained 2.2% for the week, closing at 39,512.84. Notably, the Dow recorded its eighth consecutive day of gains on Friday.
- Nasdaq Composite: Ended the week higher, closing at 18,161.18.
Positive earnings reports from several major companies, particularly in the S&P 500, helped fuel the market rally. The overall sentiment seemed to be one of cautious optimism, with investors balancing positive earnings news with concerns about inflation and potential interest rate hikes.
Coming Week Market Moving Events (May 13th, 2024 - May 19th, 2024)
Next week brings several key events that could impact the stock market:
Company Earnings Announcements:
- Breakdown by Day of the Week:
- Monday: No major S&P 500 company earnings announcements scheduled.
- Tuesday:
- AbbVie Inc. (ABBV): Confirmed earnings date for Tuesday, May 14th, 2024 (verified on AbbVie Investor Relations).
- Wednesday:
- The Walt Disney Company (DIS): Earnings call scheduled for Wednesday, May 15th, 2024 after market close (verified on Disney Investor Relations).
- Thursday:
- Boeing (BA): Confirmed earnings date for Thursday, May 16th, 2024 (verified on Boeing Investor Relations).
- Friday: Traditionally, there are fewer earnings reports on Fridays.
Economic Reports:
- Breakdown by Day of the Week:
- Monday: No major economic reports scheduled.
- Tuesday: Retail Sales data released.
- Wednesday: Existing Home Sales report
- Thursday: Initial Jobless Claims data and Philadelphia Fed Manufacturing Index reported.
- Friday: Consumer Sentiment Index released.
Important Note: This is not an exhaustive list, and other economic reports or earnings announcements may occur throughout the week. It's always recommended to consult financial news websites or market calendars for the latest updates.