— The Dow Jones Industrial Average closed higher on Friday (May 27) after the US personal consumption expenditures (PCE) index showed a slowdown.
The Dow Jones Industrial Average closed at 33,212.96, up 575.77, or +1.76%.
The S&P 500 closed at 4,158.24, up 100.40, or +2.47%.
The Nasdaq closed at 12,131.13, up 390.48, or +3.33%.
— Crude oil futures continued to rise. This was driven by tight oil supplies and the trend towards higher oil demand in the coming summer months in the US and Europe.
The WTI crude oil contract for July delivery rose 98 cents, or 0.9%, to $115.07 a barrel and was up 4.3% for the week.
BRENT crude futures rose $2.03, or 1.7%, to $119.43 a barrel and were up 6.1% for the week.
— Gold contract closed positive. This was driven by a weakening dollar that made gold contracts, which are priced in dollars, less expensive for investors holding other currencies. In addition, weak US economic data releases boosted safe-haven buying.
Gold futures were up $3.4, or 0.18%, at $1,857.3 per ounce.
Silver futures were up 13.1 cents, or 0.6%, at $22.096 an ounce.
Platinum was up $5.6, or 0.6%, at $943 per ounce.
The palladium futures were up $58.10, or 2.9%, at $2,054.80 an ounce.
— The US dollar weakened against a basket of major currencies following the release of the U.S. personal consumption expenditures (PCE) index, suggesting that inflation in the U.S. has slowed.
The dollar index against the six major currencies in a basket of currencies fell 0.16% to 101.6670.
The US dollar weakened against the yen at 127.10 yen from 127.17 yen.
The dollar weakened against the Swiss franc to 0.9576 francs from 0.9593 francs.
The dollar was lower against the Canadian dollar to 1.2724 Canadian dollars from 1.2772 Canadian dollars.
The euro was higher against the dollar at $1.0734 from $1.0724.
The pound rose to $1.2626 from $1.2595.
The Australian dollar strengthened against the US dollar at $0.7156 from $0.7093.