Wall Street rebounds but Dow down for the week

U.S. stocks bounced back on Friday with the Dow, S&P 500, and Nasdaq all making gains. The tech-heavy index and S&P marked a fifth consecutive week of growth, however, the Dow ended its five-week rally after a significant drop on Thursday. New orders for key U.S.-manufactured capital goods saw a rebound in April, while consumer inflation expectations improved towards the end of May. Adam Coons, chief portfolio manager at Winthrop Capital Management, believes that if inflation can stabilize around 2% and growth remains steady, it could lead to a positive economic outlook. Workday shares plummeted over 15% after lowering its annual subscription revenue forecast, while Nvidia saw a 2.5% increase following strong earnings. Ross Stores also saw a jump of over 7.5% after exceeding first-quarter expectations and raising its annual profit forecast.

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