Market Report, 2026-05-28

Stocks hit new all-time highs again amid speculation about a diplomatic breakthrough in the three-month war. Oil prices held steady at $85 per barrel for Brent crude. Pending sign-off from the US president, the U.S. and Iran have reached a tentative deal to extend a ceasefire by 60 days and launch further talks on Tehran’s nuclear program.

The Dow Jones Industrial Average stayed flat at 50,669. The Nasdaq rose 0.84% to 30,224. The S&P 500 rose 0.58% to 7,564. Investors once again favored the AI story, with the technology sector posting significant gains; however, healthcare stood out today as the sector winner, with a slightly higher return as inflation spooked investors into the more defensive sector.

The 5-year, 10-year, and 30-year Treasury yields went down by 3 basis points to 4.16%, 4.45%, and 4.98%, respectively.

The Federal Reserve’s preferred inflation gauge was released today, coming in as expected at 3.8%. Because of the elevated inflation numbers, the federal funds market continued to price in a rate hike as the next move after holding the policy rate steady for a while. It was notable that personal income in April did not grow at all, but spending grew, signaling the possibility of accelerating purchasing on credit in the economy. First-quarter GDP was also revised downward due to softer consumption and investment. Durable goods orders for April spiked with a massive 7.9% increase, fueled by demand for non-defense aircraft and parts as well as broader corporate demand.

There will be preliminary inventory numbers and the Chicago Business Barometer tomorrow. Adams Wealth Advisors will continue to keep you informed.