Market Review: 5/29/20

By Steven Doll, Portfolio Strategist

The Market Week in Review for the week ending May 29, 2020.

The U.S. stock market rose roughly 3.0% for the week ending May 29th, despite poor economic data, as investors look ahead in hopes of a promising COVID-19 vaccine and an economic recovery. Interest rates were little changed on the week with both the 10-year treasury yield and 2-year treasury yield dropping 0.01% to 0.65% and 0.16%, respectively. The price of gold was little changed on the week, falling roughly 0.2% to $1,745 an ounce. Meanwhile the price of crude oil continues to climb out of a deep hole, rising nearly 3.0% on the week and roughly 62% since its low in mid-April, but is still down over 42% so far this year.