US Stock Market Wrap-Up: Key Indexes Performance on Friday, May 24, 2024

<ul>
    <li>U.S. stocks rose in a bounce back from Wall Street’s worst day since April.</li>
    <li>The S&P 500 gained 0.7% to win back all its losses from earlier in the week.</li>
    <li>It eked out a fifth straight winning week and is just shy of its record set on Tuesday.</li>
</ul>
<p><strong>U.S. stocks rebound as S&P 500 gains 0.7%, led by Nvidia's strong performance.</strong></p>
<h2><strong>Wall Street's Recovery After a Tough Day</strong></h2>
<p>U.S. stocks saw a significant rebound, with the S&P 500 gaining 0.7% to recover from earlier losses in the week. This marks the fifth consecutive winning week for the index, which is now just shy of its record high set on Tuesday. The Dow Jones Industrial Average also saw a slight increase of less than 0.1%, while the Nasdaq composite surged by 1.1%, setting a new all-time high.</p>
<h3><strong>Nvidia's Impact on the Market</strong></h3>
<p>Nvidia's impressive profit report earlier in the week played a crucial role in pushing the market higher. The tech giant's strong performance helped lift investor sentiment, contributing to the overall gains in the stock market. Treasury yields remained stable following a better-than-expected report on consumer sentiment, further supporting the positive market movement.</p>
<h2><strong>Weekly and Yearly Performance</strong></h2>
<p>For the week, the S&P 500 is up by 1.45 points, or less than 0.1%. The Dow Jones Industrial Average, however, is down by 934 points, or 2.3%. The Nasdaq composite has risen by 234.83 points, or 1.4%, while the Russell 2000 index of smaller companies has decreased by 26.05 points, or 1.2%.</p>
<h3><strong>Year-to-Date Performance</strong></h3>
<p>Year-to-date, the S&P 500 has gained 534.89 points, or 11.2%. The Dow is up by 1,380.05 points, or 3.7%. The Nasdaq has seen a significant increase of 1,909.44 points, or 12.7%, and the Russell 2000 is up by 42.59 points, or 2.1%.</p>
<h3><strong>Conclusion</strong></h3>
<p>The U.S. stock market has demonstrated resilience, bouncing back from a challenging day earlier in the week. With the S&P 500 and Nasdaq showing strong performances, driven by companies like Nvidia, investors remain optimistic. However, the mixed weekly performance of major indices indicates that market volatility persists. Moving forward, market participants will closely monitor economic indicators and corporate earnings to gauge the market's direction.</p>