Stock Market Today: Stocks Climb Ahead of Memorial Day Weekend
The S&P 500 and Nasdaq extended their weekly win streaks into the long holiday weekend.


Stocks closed higher ahead of the long holiday weekend. In addition to bargain hunters swooping in following Thursday's broad-market bludgeoning, some encouraging economic data helped spark today's upside.
Specifically, data from the Census Bureau released ahead of the open showed new orders for durable goods rose 0.7% from March to April, marking the third consecutive monthly increase.
In other economic news, the University of Michigan's final Consumer Sentiment Index for May revealed consumer sentiment was down more than 10% month-to-month to its lowest level in about five months (69.1). However, this was better than the initial reading of 67.4, while short-term inflation expectations also improved.

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Concerns over slowing job and wage growth and higher-for-longer interest rates could "pose downside risk for consumer spending," said Joanne Hsu, director of the surveys of consumers at the University of Michigan. "Still, sentiment remains almost 20% above a year ago and about 40% above the all-time historic low in June 2022, reflecting how much consumer views have improved as inflation eased."
Today's durable goods figures are signaling a comeback in the manufacturing sector, says José Torres, senior economist at Interactive Brokers. Additionally, the upwardly revised consumer sentiment, alongside lighter price pressure projections, "is providing fuel to the soft-landing trade," he notes.
Deckers Outdoor hits a record high after earnings
In single-stock news, Deckers Outdoor (DECK) soared 14.2% today to close at a new record high. Boosting the retail stock was its stronger-than-expected fiscal fourth-quarter earnings report that showed 18% year-over-year revenue growth and a 51% spike in earnings per share.
Still, CFRA Research analyst Zachary Warring reiterated a Sell rating on DECK after earnings. "We believe the company continues to execute and love the growth from its HOKA brand," Warring writes in a note. However, the analyst believes the consumer discretionary stock is overvalued considering it expects a small 2% increase at the midpoint to fiscal 2025 earnings.
Ross Stores rallies after earnings
Ross Stores (ROST) was another post-earnings winner, surging 7.8% after beating top- and bottom-line estimates in its first quarter.
"ROST's Q1 report suggests the company's underlying fundamentals remain fairly solid even as its core low-to-middle income customers experience meaningful macro pressure," says UBS Global Research analyst Jay Sole. Still, the analyst remains Neutral-rated (the equivalent of Hold) and sees "limited upside" from current levels.
As for the main indexes, the Nasdaq Composite rose 1.1% to 16,920, the S&P 500 added 0.7% to 5,304, and the Dow Jones Industrial Average eked out a marginal gain to finish at 39,069. While the Nasdaq and S&P 500 extended their stretches of consecutive weekly gains to five, the Dow snapped its weekly win streak.
As a reminder, Monday is a stock market holiday with both the stock and bond markets closed for Memorial Day.
Related content
- DuPont Split Will Create Three Separate Companies: What To Know
- Kiplinger's Earnings Calendar for This Week
- Are Banks Open on Memorial Day in 2024?
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at a local investment research firm. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.
-
Retirement in the Age of Cyber Scams: How To Protect Your Next Chapter
Retirement is meant to be a time of relaxation and living life on your terms. But for many retirees, this dream is under threat from a growing epidemic — cyber scams.
-
Dow Bleeds Red Due to Big Blue: Stock Market Today
Six of the official GICS sectors were in the green, led by communications services, technology and energy stocks.
-
Dow Bleeds Red Due to Big Blue: Stock Market Today
Six of the official GICS sectors were in the green, led by communications services, technology and energy stocks.
-
July Fed Meeting: Live Updates and Commentary
The July Fed meeting could be a lively economic event, with Wall Street keyed into what Fed Chair Powell has to say about interest rates and President Trump.
-
A Contrarian Approach Pays Off for This Small-Cap Fund
Small-cap stocks have been hit hard by tariff worries, but this T. Rowe Price fund has outperformed thanks to its manager's against-the-tide approach.
-
A Financial Planner's Guide to Unlocking the Power of a 529 Plan
529 plans are still the gold standard for saving for college, especially for affluent families, though they are most effective when combined with other financial tools for a comprehensive strategy.
-
An Investment Strategist Takes a Practical Look at Alternative Investments
Alternatives can play an important role in a portfolio by offering different exposures and goals, but investors should carefully consider their complexity, costs, taxes and liquidity. Here's an alts primer.
-
Ready to Retire? Your Five-Year Business Exit Strategy
If you're a business owner looking to sell and retire, it can take years to complete the process. Use this five-year timeline to prepare and stay on track.
-
Figma IPO: Should You Buy FIG Stock?
The Figma IPO has plenty of buzz building around it, with the design software company expected to start trading next week.
-
Dow Jones Industrial Average Nears New Highs: Stock Market Today
The successor to the first stock market index is getting up there with the S&P 500 and the Nasdaq Composite in all-time-high territory.