Stock Market News, May 13, 2024: Dow Ends Winning Streak Ahead of Inflation Data

Can May’s winning streak for markets continue?

This week’s inflation data may help decide. April’s producer-price index will be published Tuesday, while the much-awaited consumer-price index will come out Wednesday. Inflation numbers came in hotter-than-expected in the first quarter, derailing the Federal Reserve’s plans to begin cutting interest rates.

Meanwhile, one-time meme stock GameStop surged, extending a recent runup. Other meme-stock favorites made big moves as well.

Read the day's full markets roundup here.

There are also some big earnings this week, including from Home Depot and Alibaba on Tuesday, Cisco Systems on Wednesday and Walmart on Thursday.

As of late Monday:

Stock indexes finished mixed. The Dow ended its longest winning streak of the year, falling after eight sessions of gains. The S&P 500 slipped, while the Nasdaq edged higher. All three indexes have advanced by at least 3.6% this month.

Treasury yields slipped, settling at 4.479%.

Overseas stocks were mixed. Japan's Nikkei 225 closed slightly down, while Hong Kong’s Hang Seng Index rose. The Stoxx Europe 600 eked out a gain.

Gold futures fell more than 1%, after a rally late last week.

—By Patricia Kowsmann and Karen Langley