Market Recap of the Week of May 17, 2026 - May 24, 2026

Overall Market Trends:

The stock market rebounded over the course of last week, with all four major indices seeing significant gains. The New York Stock Exchange Composite (NYSE) rose 420 points on the week (+1.84%), the S&P 500 surged 65 points (+0.88%), the NASDAQ Composite soared 125 points (+0.48%), and the Dow Jones Industrial Average posted a weekly gain of 1,053 points (+2.13%).

Stocks drifted lower Monday as memory chip names sold off and oil pushed higher, though Trump pulling back a planned strike on Iran kept losses in check. Seagate (NASDAQ: STX) dropped nearly 7% after its CEO flagged that new factories would "take too long," dragging Micron (NASDAQ: MU) down almost 6%, Western Digital (NASDAQ: WDC) 4.8%, and Sandisk (NASDAQ: SNDK) 5.3%. Nvidia (NASDAQ: NVDA) and Broadcom (NASDAQ: AVGO) each lost about 1%. WTI climbed roughly 3% to $108.66 and Brent settled up over 2% at $112.10, though both came off their highs after Trump said Qatar, Saudi Arabia, and the UAE had asked him to hold off on the attack, citing serious negotiations underway.

Selling continued Tuesday as the bond market took center stage. The 30-year Treasury yield briefly topped 5.19%, its highest level in nearly 19 years, and the 10-year hit 4.687%, its highest since January 2025. The rate spike, fueled by fears that elevated oil prices from the Iran war were reigniting inflation, pressured growth stocks and raised concerns about the Fed falling behind the curve. Nvidia slid nearly 1% ahead of its Wednesday earnings report, and Qualcomm (NASDAQ: QCOM) and Broadcom (NASDAQ: AVGO) dropped nearly 4% and 2%. Oil eased slightly after Trump called off the Iran attack, though the U.S. reportedly seized an Iranian-linked oil tanker in the Indian Ocean overnight.

Stocks snapped their three-day losing streak Wednesday after Trump told reporters the administration was in the "final stages" of Iran negotiations. WTI dropped 5.66% to $98.26 and Brent shed 5.63% to $105.02 on the news. Treasury yields also pulled back, with the 10-year shedding more than 9 basis points and the 30-year dropping over 6. The Dow reclaimed 50,000. Fed minutes released during the session showed most officials expected rate hikes down the line if oil-driven inflation persisted. Nvidia closed up more than 1% ahead of its after-hours earnings report.

The Dow hit a fresh record close Thursday as oil and yields stayed mostly in check, though both whipped around after Reuters reported Iran's supreme leader had directed that enriched uranium stay within the country. Nvidia beat earnings estimates handily and raised its quarterly dividend to 25 cents, but shares fell 1.8% as traders wanted more from a stock that's run over 1,400% in five years. WTI slipped nearly 2% to $96.35 and Brent dropped over 2% to $102.58 as ceasefire optimism held.

Stocks closed the week in the green Friday as Treasury yields eased and a Qatari team flew into Tehran to help broker a deal, keeping peace hopes alive heading into the weekend. Qualcomm ripped nearly 12% on the day, finishing the week up 18.2%. Oil settled modestly higher but well off the week's peaks. The S&P 500 logged its eighth straight winning week, its longest such streak since late 2023, while the Dow posted a record close and the Nasdaq notched its seventh weekly gain in eight weeks.

Source: CNBC (Consumer News and Business Channel)

Past Earnings Report:

This Week in Crypto

Live Crypto Markets:

Looking Towards the Future

Upcoming Important Economic Events:

Monday: Markets closed for Memorial Day Holiday
Tuesday: Consumer confidence
Wednesday: Various Fed officials speak
Thursday: Initial jobless claims • Durable-goods orders
Friday: GDP (second revision) • Personal Consumption Expenditures Index (PCE) • Core PCE • Chicago Business Barometer (PMI) • Various Fed officials speak

Future Earnings Reports:

Market Recap (5/24/26)

This Week in Crypto