Stock Market Update Friday May 17, 2024

Stock Market Update Friday May 17, 2024 Equity markets concluded a momentous week with the Dow Jones Industrial Average surpassing the historic 40,000 milestone, securing its fifth consecutive weekly gain of 1.2%. The S&P 500 and Nasdaq Composite also demonstrated robust performance, climbing 1.5% and 2.1% respectively, marking their most prolonged winning streak since February.

In the fixed-income market, long-dated Treasuries experienced moderate selling pressure, while commodities showcased strength. Bitcoin rallied above the $67,000 threshold, and copper neared its March 2022 peak following a 3% surge. Gold approached its record high set last month, surpassing $2,400 per ounce. In the energy sector, WTI crude oil held steady above $79 per barrel, and the VIX volatility index remained subdued below 12.

The early stages of Friday's trading session were characterized by robust price action in commodity markets, with spot silver surging 3.3% to reach an 11-year peak of $30.55 per ounce.  As long-term holders and staunch believers in the value proposition of precious metals, we employ a disciplined, data-driven approach to investing.  Our proprietary algorithm generates buy signals, and we only initiate or add to our positions upon receiving a "large green dot" alert.