๐ฐ ๐๐๐๐ค๐ฅ๐ฒ ๐ฆ๐๐บ๐บ๐ฎ๐ฟ๐ ๐ฐ
Week Ending 5/31/2024
๐๐ก๐๐ญ ๐ก๐๐ฉ๐ฉ๐๐ง๐๐?
- The $SPX500 (SPX500 Index (Non Expiry)) recorded its first weekly decline since mid-April but still ended May with a solid monthly gain.Despite the weekly drop, the $SPX500 (SPX500 Index (Non Expiry)) concluded May with a 4.8% monthly increase, wiping out its 4.2% April decline. The index is now up nearly 11% for the year-to-date.
- The US consumer spending index declined more than anticipated in April, according to this week's economic data, with expenditures on goods entering contraction zone. The Federal Reserve's preferred core measure, which does not include food and energy, and the annual headline personal consumption expenditures price index, however, both stayed constant at 2.7% and 2.8%, respectively, and were in line with Wall Street's expectations.
- Five of the 11 sectors in the S&P 500 fell on a weekly basis, led by a 1.5% drop in technology and a 0.8% decline in industrials. Other decliners included communication services, health care and consumer discretionary. Shares of $CRM (Salesforce Inc) a technology company, fell 14% during the course of the week. While revenue missed Wall Street predictions, the company's adjusted profits per share during the first quarter of its fiscal year exceeded expectations. Additionally, when the guidance was given, Salesforce predicted that the current quarter's performance would be lower than the mean projections of analysts.
๐๐ก๐๐ญ ๐ก๐๐ฉ๐ฉ๐๐ง๐ฌ ๐ง๐๐ฑ๐ญ?
- Next week, the market will kick off June with readings on May manufacturing and auto sales, but investors will be most focused on the May employment data expected later in the week.
Weekly Performance:
@Future101- (-0.40%)
$SPX500 (SPX500 Index (Non Expiry)) - (-1.40%)
$NSDQ100 (NASDAQ100 Index (Non Expiry)) - (-0.40%)
- To all those who have recently copied me, I would like to say thank you and welcome. Having said that, I would want to thank you sincerely for your ongoing support. Maintaining composure and patience is essential. Cheers to everyone's weekend.
- Disclaimer: This is just an opinion and is not a financial advice.... Show More
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Sun Jun 22 2025 08:08:18 GMT+0000 (Coordinated Universal Time)
