Stocks

Wall Street Review: S&P 500 Rallies for 8th Week, Dow Hits New Record High

The rallies come despite elevated bond yields and signs of an economic slowdown.
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Wall Street Review: S&P 500 Rallies for 8th Week, Dow Hits New Record High
Traders work on the floor of the New York Stock Exchange on May 21, 2026. Michael M. Santiago/Getty Images
Panos Mourdoukoutas
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The S&P 500 rallied for the eighth week, while the Dow Jones Industrial Average closed at another record high despite elevated bond yields and signs of an economic slowdown.

Trade was volatile, as bond yields fluctuated widely during the week, following swings in oil prices and the release of the Federal Open Market Committee meeting minutes, which suggested an interest rate hike may be in the offing. Some analysts are concerned about valuations, especially in the hot tech sector.

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Panos Mourdoukoutas
Panos Mourdoukoutas
Author
Panos Mourdoukoutas is a professor of economics at Long Island University in New York City. He also teaches security analysis at Columbia University. He’s been published in professional journals and magazines, including Forbes, Investopedia, Barron's, IBT, and Journal of Financial Research. He’s also the author of many books, including “Business Strategy in a Semiglobal Economy” and “China's Challenge.”