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"Buy the dips" aptly describes the stock market's message this holiday-shortened week.
The dips were fleeting on the path to the S&P 500 setting its first record since March 2000 and the Dow Jones Industrial Average hitting its 26th of 2007. This was particularly true on Wednesday, when early weakness linked to a China selloff was wiped out by aggressive afternoon buying after the release of the minutes of the Federal Reserve's May 9 policy meeting.
Largely on the basis of Wednesday's rise, the Dow rose 1% this week while the S&P 500 gained 1.3% and the Nasdaq Composite rose 2.3%, its best week since late March. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,328.89 | 1,094.32 | 2,147.49 | 32.20 |
Oil *
77.20
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DOWN
135.51
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DOWN
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28.56
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0.59
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