S&P500 tests & holds March breakout highs as energy stocks lead – Stock Market Analysis for May 31, 2024

Welcome back everyone to Stock Market Weekly Episode #734 for Friday, May 31, 2024 where we will be breaking down the most important trends, price action, and noteworthy moves across financial markets.

As always, we will share extensive analytics on the S&P500 (SPX), Nasdaq 100 (NDX), Russell 2000 (RUT), and current volatility environments.

In this week’s episode:

• New lightest volume week of the year (4 days)
• Friday’s intraday range and bullish turnaround
• April PCE sends yields lower
• A look into the state of the Mag 7
• Energy sector starting to come alive

Markets covered: TNX XLE

Stocks covered: MSFT META GOOG AMZN TSLA NVDA AAPL

We hope that you enjoyed this week’s episode!

Thanks to our sponsor Investor’s Business Daily for allowing us to showcase some of their stocks and data tables in this video. To get access to IBD’s stock lists and complete Industry Rankings, sign up here.