Market Overview
On Friday, $Dow Jones Industrial Average(.DJI.US$ rebounded significantly, marking its strongest single-day gain this year, though it still posted a two-week losing streak. ![]()
$S&P 500 Index(.SPX.US$ ended its two-day losing streak, while $Nasdaq Composite Index(.IXIC.US$ , after dropping over 1% intraday, recovered most of its losses, with all three indexes up for May. $NVIDIA(NVDA.US$ initially rose 2% before reversing, ending May with a nearly 30% gain; $Apple(AAPL.US$ extended its winning streak to five days, up nearly 13% for the month; $Dell Technologies(DELL.US$ dropped 20% post-earnings, its biggest drop ever; and $Marvell Technology(MRVL.US$ fell over 10%.
Following the release of the PCE data, U.S. Treasury yields declined sharply, with the two-year yield hitting a one-week low. The U.S. Dollar Index hit a daily low and posted its first monthly decline of the year in May.
Oil prices fell for the third consecutive day, nearing a three-month low and recording the largest monthly drop of the year in May. Gold fell from a one-week high but gained for the third straight month, while silver futures rose over 10% in May. LME zinc fell over 3%, copper fell for three consecutive days to a three-week low but posted gains for the second straight month, and tin rose nearly 6% in May, its sixth consecutive monthly gain. Ethereum gained nearly 20% in May.
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