Major U.S. stock indexes finished the week lower. Declines were led by the technology-heavy Nasdaq Composite, which fell 4.68%, followed by the Russell 2000 and S&P 500 Indexes, the latter of which posted a weekly loss for the first time since March. The Dow Jones Industrial Average held up best, declining 0.32%. Early gains tied to artificial intelligence (AI) optimism faded later in the week as investors weighed oil price volatility tied to Middle East headlines, elevated earnings expectations for AI-linked companies, a growing pipeline of AI-related equity issuance, and a stronger-than-expected May payrolls report that helped push Treasury yields higher on Friday.

Meanwhile, the widening performance gap highlights AI’s outsized role in equity markets. Each week, the Syz investment team takes you through the last seven days in seven charts.

Major U.S. stock indexes rose during the holiday-shortened week, with several benchmarks closing at record highs, as investor sentiment was supported by rising hopes for a U.S.-Iran peace agreement, falling oil prices, and continued momentum in artificial intelligence-linked stocks. The Nasdaq Composite led among the major benchmarks, buoyed in part by AI optimism, while the Russell 2000 and the S&P 500 Indexes also posted solid gains. The Dow Jones Industrial Average lagged but still rose 0.9%. Early reports that the U.S. and Iran were moving toward a 60-day ceasefire extension and a reopening of traffic through the Strait of Hormuz helped push oil prices lower and supported risk appetite through much of the week.

How one chipmaker reshuffled the global equity rankings — and what it means for both markets

From the Nasdaq's remarkable long-term resilience to growing concentration in emerging markets, Russia's forced gold sell-off, and China's capital allocation challenge, this week's 7 charts map’s the fault lines shaping the global investment landscape. Each week, the Syz investment team takes you through the last seven days in seven charts.

 Major U.S. stock indexes closed the week higher, with the Dow Jones advancing to an all-time high and the S&P 500 Index rising for the eighth consecutive week, its longest winning streak since 2023. Small-cap and value stocks outperformed large-cap and growth shares. After a volatile start to the week, sentiment improved as enthusiasm around artificial intelligence (AI) stocks—supported in part by chipmaker NVIDIA’s stronger-than-expected earnings results—helped offset uncertainty surrounding the Middle East conflict. Additionally, while headlines around a possible deal between the U.S. and Iran remained fluid and sometimes conflicting, investors generally appeared to see negotiations as more likely than escalating military action.

Flash note

Flash note

Nvidia tops the charts with record market cap, and Germany’s economy appears sluggish, while American purchasing power recedes. Each week, the Syz investment team takes you through the last seven days in seven charts.

Most major U.S. stock indexes finished the week lower as optimism surrounding large-cap technology and AI-related stocks was largely outweighed by concerns around accelerating inflation, rising Treasury yields, elevated oil prices, and lingering geopolitical uncertainty. Within the S&P 500 Index—which closed at a record high on Thursday before pulling back Friday—the energy sector advanced the most, while consumer staples and IT also posted gains. On the other hand, the consumer discretionary, real estate, and materials sectors led declines. U.S. Treasuries fell over the week as yields increased across most maturities in response to higher energy prices and inflation fears. As of Friday afternoon, the yield on the benchmark U.S. 10-year Treasury note had increased to around 4.59%, the highest level in over a year.