Markets were relatively stable last week, with major indices finishing modestly lower following the strong rally earlier in May.

• S&P 500: -0.06%

• NASDAQ: -0.19%

• Dow: -0.36%

Key themes:

• Inflation remained above the Federal Reserve’s long-term target

• Markets monitored Federal Reserve leadership changes and policy expectations

Takeaway:

Markets remained orderly overall, but investors continued watching inflation, interest rates, and policy developments closely.

Markets moved sharply higher last week, led by continued strength in large-cap technology and growth-oriented sectors.

• S&P 500: +2.75%

• NASDAQ: +4.45%

• Dow: +1.36%

Key themes:

• The S&P 500 and NASDAQ reached fresh record highs

• Technical conditions suggested increased short-term caution after the rally

Takeaway:

The broader trend remains constructive, but elevated momentum and upcoming inflation data may lead to continued volatility.

Markets finished modestly higher last week as investors digested a critical wave of mega-cap earnings.

• S&P 500: +0.79%

• NASDAQ: +1.77%

• Dow: -0.43%

Key themes:

• Mega-cap earnings drove market direction

• Investor reactions became more selective beneath the surface

Takeaway:

Markets remain constructive, but narrow leadership and earnings-driven volatility continue to shape short-term market behavior.