Keyword → Bank of America pullback warning

Dow Jones Sets Record 51,561 Close on June 4 as Chip Selloff Fuels Rotation Into UnitedHealth +5%, JPMorgan +3%, Walmart +1% — BofA Flags Summer Pullback Risk

The Dow Jones Industrial Average surged 874.86 points, or 1.73%, to a record close of 51,561.93 on Thursday as investors rotated aggressively out of semiconductor names into non-tech large caps following Broadcom's after-hours selloff. UnitedHealth Group gained more than 5%, JPMorgan Chase rose 3%, and Walmart added nearly 1%, while the Nasdaq lost 0.09% and the S&P 500 rose just 0.41% to 7,584. Bank of America strategists reiterated their summer pullback warning, noting that Intel and Micron have each tripled year-to-date in 2026.

S&P 500 Closes May at Record 7,520 — Up 5% for Month, Nasdaq +8.3%; AI Rally and Iran Peace Hopes Drive Ninth Consecutive Weekly Gain Despite Oil Above $90

The S&P 500 closed May 2026 at a record 7,520.36 — up approximately 5% for the month — while the Nasdaq Composite advanced 8.3% for its best monthly performance of 2026. The gains capped a ninth consecutive week of positive returns for the S&P 500, a streak driven by the AI infrastructure earnings cycle and intermittent Iran peace-deal optimism. June historically ranks as the worst month for equities in midterm election years, and Bank of America strategists warn stocks may be "running out of room" after the relentless post-war rally.

S&P 500 at 7,520 and Dow at Record 50,644 — Bank of America Warns of 'Summer Pullback' Risk as Chip Stocks Cap Wednesday Gains

The S&P 500 closed at a record 7,520.36 and the Dow Jones Industrial Average set a new all-time high at 50,644.28 on Wednesday, May 27, powered by a 5.55% single-session drop in WTI crude oil on a — later denied — Iranian state media report of Hormuz restoration. Bank of America strategists are now warning investors to begin preparing for a summer pullback, citing stretched valuations and the observation that 'U.S. stocks may be running out of room' after a relentless post-war rally in which Intel and Micron have each tripled year-to-date.