Stocks Closed Flat Ahead of Memorial Day Weekend

#MemorialDay #stocks #inflation #Fed #MSI

The US financial markets market will be closed Monday for Memorial Day.

DJIA +64.81 at 34529.45, NAS Comp +12.46 at 13748.76, S&P 500 +3.23 at 4204.11

The S&P 500 posted a 0.1% gainer Friday, as investors were comforted by the Treasury market’s calmness to further evidence of inflationary pressures.

On inflation:

PCE Price Index, the Fed’s inflation gauge rose 0.6% M-M in April and was up 3.6% Y-Y. The expected year-ahead inflation rate was a record 4.6% in the final May reading for the University of Michigan Index of Consumer Sentiment (MSI).

Speculative trading activity was highlighted by the media in the early part of the day, The iShares Micro-Cap ETF (IWC 149.58, -0.91, -0.6%) declined 0.6% after starting with a 1.0% gainer on Top a 4.6% rally over the prior 2 sessions. 

Friday, the benchmark US stock indexes finished at:

Volume: Trade on the NYSE came in at 1-B/shares exchanged,

HeffX-LTN’s overall technical outlook for the major US stock market indexes is Bullish with a Very Bullish at the month ended 28 May 2021.

  • Russell 2000 +14.9% YTD
  • DJIA +12.8% YTD
  • S&P 500 +11.9% YTD
  • NAS Comp +6.7% YTD

Looking Ahead: Investors will receive the ISM Manufacturing Index for May, Construction Spending for April, and the final IHS Markit Manufacturing PMI for May Tuesday,

Have happy healthy holiday weekend, Keep the Faith!