Market Pulse

May 31

  IndexLast Week1-Month (Trailing)YTD
DJIA
      +0.90%
      +4.52%
      +6.20%
S&P 500
      +1.40%
      +6.31%
      +10.70%
Nasdaq
      +2.40%
      +11.60%
      +16.10%
Russell 2000
      +1.70%
      +6.75%
      +17.60%
MSCI EAFE
      +0.79%
      +4.87%
      +9.13%
MSCI EM
      +4.13%
      +9.43%
      +25.39%
Bloomberg U.S. Agg
      +0.63%
      +0.44%
      +0.49%
Bloomberg U.S. Corp HY
      +0.50%
      +0.75%
      +1.60%
Data as of: Friday, May 29, 2026

See important disclosures below.

Weekly Recap

05/25/2026 - 05/29/2026

U.S. Economy

Core PCE reinforced sticky inflation concerns

Iran ceasefire talks helped ease market anxiety

Equity Market

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S&P 500 and Nasdaq reached record highs
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AI momentum lifted semiconductors and software

Bond Market

Treasury yields declined across the curve

```
Two-year yield moved back near 4%
```

Around the Globe

Oil fell sharply on Iran resolution optimism

South Korean AI stocks drove Kospi higher

The Week Ahead…

06/01/2026 - 06/05/2026

Mon

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ISM Manufacturing Index
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Construction Spending
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Hewlett Packard Enterprise, SAIC
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Tue

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JOLTS
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Dollar General, Signet Jewelers
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Palo Alto Networks, Ulta Beauty, GitLab
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Wed

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ADP Employment Report
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ISM Services Index
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Broadcom, CrowdStrike, Medtronic, Veeva, Macy’s

Thu

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Weekly Jobless Claims
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Productivity, Unit Labor Costs
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Lululemon, DocuSign, Ciena, Brown-Forman, Samsara

Fri

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Nonfarm Payrolls
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Unemployment Rate
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Average Hourly Earnings
```

The week ahead brings a busy macro calendar, with investors focused on whether recent signs of sticky inflation are beginning to weigh on labor market momentum. Manufacturing data and construction spending open the week, followed by JOLTS, ADP employment, ISM Services, and Friday’s May payrolls report. The unemployment rate and wage growth figures will be especially important as markets reassess the path for Fed policy.

Earnings season is winding down, but several notable reports remain. Broadcom and CrowdStrike will be key reads for AI, semiconductors, and cybersecurity demand, while Palo Alto Networks, GitLab, Veeva, and DocuSign provide further insight into software spending. Retail updates from Dollar General, Ulta Beauty, Macy’s, and Lululemon should offer a read on consumer resilience.

Internationally, investors will also monitor European inflation and growth data, Canada’s employment report, and ongoing IPO activity across aerospace, quantum computing, insurance, and natural resources.

-Matt Shaw, CFA

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This report and the opinions provided herein are for informational purposes only, are not a solicitation, and should not be considered investment advice or a recommendation to buy, sell, or hold any particular security or investment. All opinions expressed herein constitute the author’s judgement as of the date of this document and are subject to change without notice. Statements made are not facts, including statements regarding trends, market conditions and the experience or expertise of author are based on current expectations, estimates, opinions and/or beliefs. Such statements are not facts and involve known and unknown risks, uncertainties and other factors. Past events and trends do not predict or guarantee or indicate future events or results. Information cited in this report has been drawn from sources believed to be reliable and was captured at a point in time. Therefore, the data is subject to change and its accuracy is not guaranteed. DJIA, S&P, Russell 2000, and NASDAQ indices are referenced directly; MSCI EAFE, MSCI EM, BB U.S. Aggregate, Bloomberg U.S. Corp. HY, and all sector figures refer to the respective ETFs as a representative figure. Ategenos Capital, LLC d/b/a AC Wealth Partners does not own or control and is not affiliated with any third-party content provided via hyperlink, quoted, or cited herein. Investors seeking more information should contact their financial advisor. Investing involves risk, including the possible loss of principal. It is not possible to invest directly in an index. Past performance does not guarantee future results. AC Wealth Partners is an investment adviser registered with the SEC. SEC registration does not imply any specific level of training or skill.

Matt Shaw