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Stocks hit new all-time high

US stocks made new all-time highs, closing in the green for the fourth week in a row. The week ahead features a highly anticipated FOMC update as earnings season winds down.


Stocks pushed higher this week following a softer-than-expected CPI report, which renewed hopes that interest rate cuts could come sooner rather than later. There was some drama early in the week as former meme stocks including GameStop and AMC popped seemingly out of nowhere. While both ended up closing the week on a downtrend, the sudden burst reminded investors of the craze in 2021. Reddit shares surged late Thursday after news of a partnership with OpenAI was announced. Elsewhere, US Treasury yields rose following the latest economic data. The crypto market also jumped alongside stocks, with bitcoin surging over 7% on Wednesday. On Thursday, the Senate passed a resolution that called for the SEC to reverse a rule that bars certain firms from holding crypto. However, President Biden has threatened to veto the resolution.

Past week Year-to-date 5-year
S&P 500 1.3% 11.8% 85.4%
Oil (WTI crude) 2.4% 13.6% 27.5%
Gold (New York) 2.4% 17.2% 89.9%
Bitcoin 8.8%



Source: Yahoo Finance, as of May 17, 2024.


Tech and retail are among the sectors highlighting upcoming earnings. All eyes will be on Wednesday's FOMC minutes in hopes of more direction from the Fed regarding potential interest rates cuts.

Palo Alto Networks () – Monday Existing home sales – Wednesday
Snowflake (– Wednesday EIA petroleum status report – Wednesday

Nvidia (– Wednesday

FOMC minutes – Wednesday (– Monday

Jobless claims – Thursday

Zoom Video Communications (– Monday

New home sales – Thursday

Intuit () – Thursday

EIA natural gas report – Thursday
See the full earnings calendar (login required). See the full economic calendar.

Source:, as of May 17, 2024.


Here are 5 stocks from the Stock Screener that made a new 52-week high during the week of May 13, 2024:

  • RBC Bearings ()
  • Chubb ()
  • Fair Isaac ()
  • Tractor Supply ()
  • Southern Copper ()

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