Daily Market Report – May 22, 2026
The stock markets ended the week stronger. In New York, the Dow Jones Industrial Average (DJI) reached a record closing level of 50,579.70 points; the S&P 500 (SPX) rose by 0.37% to 7,473.47 points, and the Nasdaq Composite (IXIC) increased by 0.19% to 26,343.97 points. The S&P 500 thus recorded its eighth consecutive weekly gain. Support came from hopes for progress in talks to end the Iran conflict, declining U.S. yields, and continued solid corporate earnings. In Europe, the STOXX Europe 600 (SXXP) closed 0.73% higher at 625.12 points; the DAX (DAX) led the major European markets with an increase of around 1.1%. Technology stocks were particularly in demand: Infineon (IFX) rose nearly 8%, STMicroelectronics (STM) 5.2%, ASML (ASML) 4.7%. Individual stocks were weighed down, such as Puig (PUIG), which fell 13.4% after the end of talks with Estée Lauder (EL), and Julius Bär (BAER) with -6.9% after disappointing net new money inflows. In individual stocks, AI and consumer themes dominated trading. Dell Technologies (DELL) rose 17% after strong Lenovo numbers, HP (HPQ) increased by 15%. Workday (WDAY) gained after better-than-expected quarterly results; the company reported revenues of $2.542 billion for the first fiscal quarter and a 14.3% increase in subscription revenues to $2.354 billion. Zoom Communications (ZM) benefited from raised annual targets and AI enthusiasm; Ross Stores (ROST) reported a 21% increase in revenue for the quarter, comparable sales of +17%, and an EPS of $2.02. From a macroeconomic perspective, Destatis confirmed a real GDP growth of 0.3% for Germany compared to the previous quarter; this development was primarily supported by exports, while investments remained weak. The ifo Business Climate Index rose slightly in May to 84.9 points from 84.5 points, which signals more stabilization than recovery. In the USA, consumer sentiment fell to 44.8 according to University of Michigan, while inflation expectations rose to 4.8% and University of Michigan rose to 3.9% — a warning signal for the Fed, although stock markets continued to trade near record levels. In the commodity markets, the Iran conflict remained the central price driver: WTI crude oil (USOIL) closed at $96.60, Brent (UKOIL) at $103.54. The US dollar held firm, while the yield on ten-year US Treasury bonds (US10Y) fell by 2.6 basis points to 4.558%. The overall picture: stocks continue to price in robust earnings, AI investments, and geopolitical easing; the risk source remains an energy-driven reflation.