U.S. Stocks Clinch 8th Winning Week as S&P 500 Gains 0.6% Despite Record-Low Sentiment
Updated
Updated · Boston Herald · May 22
U.S. Stocks Clinch 8th Winning Week as S&P 500 Gains 0.6% Despite Record-Low Sentiment
14 articles · Updated · Boston Herald · May 22
The S&P 500 rose 0.6% Friday, with the Dow up 434 points and the Nasdaq 0.5%, capping Wall Street’s best weekly streak since 2023.
Ross Stores climbed 7%, Estee Lauder 11.2%, Workday 5.6% and Zoom 10.8% after profit reports beat expectations, extending a run of stronger-than-forecast corporate earnings.
University of Michigan sentiment fell to a record low even as stocks advanced, with consumers expecting 4.8% inflation over the next year and 3.9% longer term.
Oil swings tied to the Iran war kept inflation fears elevated—Brent ended near $100.23 and U.S. crude at $96.60—while the 10-year Treasury yield held at 4.56%, far above its 3.97% prewar level.
Fed Governor Christopher Waller said he would back a rate increase if inflation expectations became unanchored, though for now he favors waiting as the conflict and data evolve.
Can the AI stock market boom survive escalating oil prices and the threat of global conflict?
With a Middle East war raging, why is Wall Street's 'fear gauge' near a historic low?
In the US-China 'AI cold war,' who will win the race for technological and resource supremacy?