Weekly US Stock Market Summary
The U.S. stock market delivered a powerful tech-led rally for the week ending May 8, 2026, as investors cheered a resilient labor market and "blockbuster" corporate earnings. The Nasdaq Composite was the standout, surging 4.5% for the week to a record high of 26,247, while the S&P 500 climbed 2.3% to its own all-time high. The Dow Jones Industrial Average remained nearly flat, gaining 0.2% as it flirted with the historic 50,000 milestone.
The week’s primary driver was Friday’s "blowout" non-farm payrolls report. The U.S. economy added 115,000 jobs in April—nearly double the expected 62,000—while March’s figures were revised upward to 185,000. This data, alongside a rebounding Q1 GDP of 2.0%, reinforced the "soft landing" narrative. Crucially for inflation concerns, wage growth cooled slightly to 3.5% year-over-year, providing a "silver lining" for the Federal Reserve.
As expected, the Federal Reserve held interest rates steady at 3.50%–3.75% during its early-week meeting. Outgoing Chair Jerome Powell noted the economy’s "solid pace" but warned of continued uncertainty from the Iran conflict. In a significant development, Powell indicated he would remain on the Board of Governors for an indeterminate period after Kevin Warsh assumes the role of Chair.
Tensions in the Middle East kept markets on edge. Brent crude surged past $126 per barrel mid-week following a "non-starter" peace proposal from Iran before retreating to settle near $100.
Investors largely looked past geopolitical noise to focus on earnings. AI-focused semiconductors and infrastructure stocks drove the Nasdaq’s record close.
That is all I could summarise about what happened in the stock market last week. Have a great weekend!
$VOOV (Vanguard S&P 500 Value ETF)... Show More
Not investment advice. The author may have financial interests in the mentioned instruments.
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Sat Aug 15 2026 09:28:45 GMT+0000 (Coordinated Universal Time)
