Dow closes more than 570 points higher to post best day in 2024, stocks wrap a winning May

The expected figures for the core personal consumption expenditures (PCE) price index in April were a 0.2% increase month-over-month and a 2.7% increase year-over-year. The actual reported figures for April were a 0.2% increase month-over-month and a 2.8% increase year-over-year.

On the specific day mentioned in the news article, the S&P 500 added 0.80% to reach 5,277.51, while the Nasdaq Composite ticked lower by 0.01% to settle at 16,735.02. In comparison, the Dow Jones Industrial Average had a significant increase, climbing 574.84 points or 1.51% to close at 38,686.32. The Dow's performance was largely bolstered by the respective advances of Salesforce (up 7.5%) and UnitedHealth (up 2.8%). Thus, the Dow outperformed both the S&P 500 and the Nasdaq Composite on that particular day.

However, if we look at the weekly and monthly performances, the picture changes. The S&P 500 and Nasdaq Composite ended the week with slides of 0.51% and 1.1% respectively, while the Dow Jones Industrial Average slipped 0.98%. But, looking at the monthly performance, each of the major benchmarks registered a positive month, with the Dow gaining 2.3%, the S&P 500 rising by 4.8%, and the Nasdaq Composite marking its best month since November by gaining 6.88%.

It's important to remember that the performance of these indexes can vary on a daily, weekly, or monthly basis due to a range of factors, including economic data, corporate earnings, and market sentiment. Therefore, investors and traders often look at both short-term and long-term performances to get a more comprehensive view of the market.