Week ending 5/08/26

Tech gains fuel another record week

The stock market turned in another strong showing this week, with the S&P 500 (+2.3%) and Nasdaq Composite (+4.5%) climbing deeper into record territory as semiconductor and mega-cap technology stocks resumed their leadership role. Broader participation was also constructive, with the Russell 2000 (+1.7%) and S&P Mid Cap 400 (+1.7%) both advancing alongside large-cap benchmarks. The Nasdaq Composite outperformed meaningfully thanks to a powerful rally across chipmakers and AI-related names, while the DJIA (+0.2%) lagged amid weakness in defensive sectors and limited industrial participation.

Geopolitical tensions and fluctuations in oil prices remained a key backdrop throughout the week. Stocks opened lower on renewed hostilities between the US and Iran, briefly sending crude oil above $106/bbl, before easing tensions and improving negotiation optimism helped oil retreat sharply into week’s end. That reversal removed a key macro headwind and supported risk appetite, particularly in growth-oriented areas of the market.

Technology stocks were the clear leadership group throughout the week. The information technology sector surged 7.0%, amid another wave of AI-driven enthusiasm and strong earnings growth. NVIDIA climbed 8.4%, while names such as Advanced Micro Devices, Intel, Micron, and Sandisk posted outsized gains across the chip space.

Software stocks also delivered solid relative strength.

That same mega-cap strength carried into other growth-sensitive areas of the market. The communication services (+1.9%) and consumer discretionary (+1.8%) sectors both posted solid gains, reflecting continued leadership from large-cap platforms and consumer-facing tech-driven companies, reinforcing the theme that index gains were concentrated in the largest, most influential stocks.

Meanwhile, falling oil prices pressured the energy sector (-5.4%), which finished as the week’s weakest-performing S&P 500 sector. Utilities (-4.0%) and financials (-1.4%) also lagged as investors rotated toward higher-beta growth and technology exposure.

Overall, the week reinforced the market’s ongoing AI-driven leadership theme. Strong earnings growth, easing geopolitical fears, and renewed momentum across semiconductors and mega-cap technology stocks helped propel the S&P 500 and Nasdaq Composite further into record territory.

Nasdaq Composite: +4.5% week-to-date
S&P 500: +2.3% week-to-date
Russell 2000: +1.7% week-to-date
S&P Mid Cap 400: +1.7% week-to-date
DJIA: +0.2% week-to-date

Past performance is not a guarantee of future results. Indices are unmanaged and one cannot invest directly in an index.

Diversification does not guarantee investment returns and does not eliminate the risk of loss.

Data and rates used were indicative of market conditions as of the date shown and compiled by Briefing.com. Opinions, estimates, forecasts, and statements of financial market trends are based on current market conditions and are subject to change without notice. References to specific securities, asset classes and financial markets are for illustrative purposes only and do not constitute a solicitation, offer, or recommendation to purchase or sell a security. S&P 500 Index is a market index generally considered representative of the stock market as a whole. The index focuses on the large-cap segment of the U.S. equities market. Each company’s security affects the index in proportion to its market value.

NASDAQ Composite Index is a market value-weighted index that measures all NASDAQ domestic and non-U.S. based common stocks listed on the NASDAQ stock market. Dow Jones Industrial Average is a widely used indicator of the overall condition of the stock market, a price-weighted average of 30 actively traded blue chip stocks, primarily industrials, but also includes financial, leisure and other service-oriented firms. Russell 2000 Index measures the performance of the smallest 2,000 companies in the Russell 3000 Index of the 3,000 largest U.S. companies in terms of market capitalization. MSCI Emerging Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets.

Park Avenue® Wealth Management is the marketing name for Park Avenue Securities LLC. Park Avenue Securities LLC (PAS) is a wholly owned subsidiary of The Guardian Life Insurance Company of America (Guardian). PAS is a registered broker/dealer offering competitive investment products, as well as a registered investment advisor offering financial planning and investment advisory services. PAS is a member of FINRA and SIPC.

Provided by Briefing.com.

Disclaimer8076115.46 20260831angle down