The post-Memorial Day holiday trading week was short but potent as stocks delivered more record gains while confidence grew that a peace deal would materialize. The Standard & Poor’s 500 Index advanced 1.43 percent, while the Nasdaq Composite Index gained 2.39 percent. The Dow Jones Industrial Average climbed 0.90 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, rose 0.99 percent.1,2 Ninth Straight for S&PStocks got off to a good start as the chipmaker-led rally continued to support the broader market, while the White House reported diplomatic progress on a Middle East peace deal.3 Leadership shifted a bit midweek, with the Dow rising modestly to a new record close as oil prices fell.4 The S&P and Nasdaq opened higher Thursday on upbeat economic news. Both posted solid gains, while the Dow Industrials went sideways.5 Stocks wrapped up the week and the month on positive notes. Sliding oil prices and technology gains helped push all three averages to record intraday and closing highs, including the Dow cracking the 51,000 mark for the first time. Become a valued client of Castle Financial to receive our more Comprehensive Weekly Global Macro Updates. Call us at 732-888-4994 to schedule an introductory call and second opinion. Among my many creditials, I am a Certified Financial Fiduciary always acting in the best interests of our valued cliens. |
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Source: YCharts.com, May 30, 2026. Weekly performance is measured from Friday, May 22 to Friday, May 29. TR = total return for the index, which includes any dividends as well as any other cash distributions during the period. Treasury note yield is expressed in basis points. |
Economic UpdatesIt was a mixed bag of economic news last week, with four key April data points released on Thursday. The Fed’s preferred inflation measure came in cooler than expected. The personal-consumption expenditure (PCE) index rose 0.4 percent in April, less than the 0.5 percent expected. Annual PCE rose 3.8 percent.7 The Gross Domestic Product report showed the economy grew more slowly in Q1 than initially estimated, with the estimate revised down to 1.6 percent annualized growth.7 In a good sign for manufacturing, durable goods orders rose 7.9 percent in April, double the expected pace and the biggest increase in almost a year. The main reason? Civilian aircraft orders soared 166 percent after China ordered 200 planes following a recent U.S.-China presidential summit.8 Homebuyers bought 6.2 percent fewer new homes in April over the prior month. But investors focused on the fact that homebuyers bought 8.9 percent and 7.4 percent more new homes in February and March, respectively, over the prior month.9 This Week: Key Economic DataMonday: ISM Manufacturing. Construction Spending. Auto Sales. Minneapolis Fed President Neel Kashkari speaks in South Korea. Tuesday: Job Openings. Cleveland Fed President Beth Hammack speaks. Wednesday: ADP Employment Report (private sector hiring). Factory Orders. ISM Services. Fed Beige Book. Fed governor Michael Barr speaks. Thursday: Weekly Jobless Claims. Productivity. Richmond Fed President Tom Barkin speaks. Friday: Federal Employment Report. Consumer Credit. Source: Investors Business Daily - Econoday economic calendar; May 29, 2026. The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to provide accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts are also subject to revision. This Week: Companies Reporting EarningsMonday: Hewlett Packard Enterprise Company (HPE) Tuesday: Palo Alto Networks, Inc. (PANW) Wednesday: Broadcom Inc. (AVGO), CrowdStrike (CRWD), Medtronic (MDT) Thursday: Ciena Corporation (CIEN) Source: Zacks, May 29, 2026. Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Investing involves risks, and investment decisions should be based on your goals, time horizon, and risk tolerance. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule their earnings reports without notice. |
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"Time is the only critic without ambition." – John Steinbeck |
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Who Can Deduct Car Expenses on Their Tax Returns?Can you deduct expenses such as gas, depreciation, and lease payments on your tax returns? If you are a business owner or self-employed individual, you may be able to. If you use your car for business and personal purposes, you may split the expenses and base the deductions on a portion of the mileage used for business. There are two methods to calculate the car expenses you can deduct. The first method involves calculating and deducting expenses, including depreciation, lease payments, gas and oil, tires, repairs and tune-ups, insurance, and registration fees. The second entails using the standard mileage rate, which is calculated to reflect gas and other factors. In 2021, the standard mileage rate is 56 cents per mile. Taxpayers who want to use the standard mileage rate for a car they own must use this method in the first year the vehicle is available for use in their business. This information is not a substitute for individualized tax advice. Please consult with a qualified tax professional to discuss your specific tax issues. Tip adapted from IRS.gov10 |
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Healthy Summer TipsStaying healthy this summer will help you enjoy the season even more. Here are some of our favorite healthy summer tips:
Summer can be an ideal time to stay active by swimming, playing games, and enjoying your favorite healthy bites. Tip adapted from Coalition to Strengthen America’s Healthcare11 |
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It traveled from Kentucky to Texas in three days, and it did so while staying in a corner. What is it? Last Week's Riddle: At times it begs to be answered, sometimes it interrupts you, but it will never ask you a question. What is it? Answer: A phone. |
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An African elephant with large tusks grazes in Amboseli National Park, Kenya with Mt Kilimanjaro on the horizon. Amboseli National Park, Kenya |
Footnotes And Sources1. WSJ.com, May 29, 2026 |
Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost.
The forecasts or forward-looking statements are based on assumptions, may not materialize, and are subject to revision without notice.
The market indexes discussed are unmanaged, and generally, considered representative of their respective markets. Index performance is not indicative of the past performance of a particular investment. Indexes do not incur management fees, costs, and expenses. Individuals cannot directly invest in unmanaged indexes. Past performance does not guarantee future results.
The Dow Jones Industrial Average is an unmanaged index that is generally considered representative of large-capitalization companies on the U.S. stock market. The Nasdaq Composite is an index of the common stocks and similar securities listed on the Nasdaq stock market and considered a broad indicator of the performance of stocks of technology and growth companies. The MSCI EAFE Index was created by Morgan Stanley Capital International (MSCI) and serves as a benchmark of the performance of major international equity markets, as represented by 21 major MSCI indexes from Europe, Australia, and Southeast Asia. The S&P 500 Composite Index is an unmanaged group of securities that are considered to be representative of the stock market in general.
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