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Names such as Zendesk (ZEN), Shutterstock (SSTK), and Barracuda Networks (CUDA) are leading the way lower.

Hi. I'm Sayoko Murase. Welcome to the 'Weekly Market Wrap' for May 30, 2014.

The Dow Jones Industrial Average, S&P 500, and NASDAQ Composite are all significantly higher for the week.

Crude oil futures are lower this week, trading at $102.74 per barrel on Friday afternoon.

And Gold futures are also lower, trading at $1246.95 an ounce on Friday afternoon.

In economic news, in the week ending May 24, the advance figure for seasonally adjusted initial claims was 300,000, a decrease of 27,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 326,000 to 327,000. The 4-week moving average was 311,500, a decrease of 11,250 from the previous week's revised average. This is the lowest level for this average since August 11, 2007 when it was 311,250. The previous week's average was revised up by 250 from 322,500 to 322,750.

The advance seasonally adjusted insured unemployment rate was 2.0 percent for the week ending May 17, unchanged from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending May 17 was 2,631,000, a decrease of 17,000 from the previous week's revised level.

Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- decreased at an annual rate of 1.0 percent in the first quarter according to the "second" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.6 percent.

The GDP estimate released today is based on more complete source data than were available for the "advance" estimate issued last month. In the advance estimate, real GDP was estimated to have increased 0.1 percent. With this second estimate for the first quarter, the decline in private inventory investment was larger than previously estimated.

The decrease in real GDP in the first quarter primarily reflected negative contributions from private inventory investment, exports, nonresidential fixed investment, state and local government spending, and residential fixed investment that were partly offset by a positive contribution from personal consumption expenditures. Imports, which are a subtraction in the calculation of GDP, increased.

Personal income increased $43.7 billion, or 0.3 percent, and disposable personal income increased $44.6 billion, or 0.3 percent, in April, according to the Bureau of Economic Analysis.

Personal consumption expenditures decreased $8.1 billion, or 0.1 percent. In March, personal income increased $76.3 billion, or 0.5 percent, DPI increased $65.0 billion, or 0.5 percent, and PCE increased $117.6 billion, or 1.0 percent, based on revised estimates.

Real DPI increased 0.2 percent in April, compared with an increase of 0.3 percent in March. Real PCE decreased 0.3 percent, in contrast to an increase of 0.8 percent.

In highlights of corporate dividend news, CenturyLink (NYSE:CTL) declared a regular quarterly cash dividend of $0.54 per share, a portion of which will be payable out of capital surplus, on June 20, 2014, to shareholders of record on June 9, 2014.

Iron Mountain (NYSE:IRM) declared a cash dividend of $0.27 per share on the common stock of the company, payable on July 15, 2014 to shareholders of record at the close of business on June 25, 2014.

The Deere & Company (NYSE:DE) Board of Directors has approved an increase of Deere's quarterly dividend to $.60 a share on common stock. The dividend is payable on August 1, 2014 to stockholders of record on June 30, 2014. The new quarterly rate represents an increase of 9 cents per share, approximately 18 percent, over the previous level. This is the twelfth increase to the Deere & Company quarterly dividend in 10 years. Deere last raised its dividend in February 2013.

Huntsman Corporation (NYSE:HUN) announced that the company's board of directors has declared a $0.125 per share cash dividend on its common stock. The dividend is payable on June 30, 2014, to stockholders of record as of June 16, 2014.

Merck (NYSE:MRK) has declared a quarterly dividend of $0.44 per share of the company's common stock for the third quarter of 2014. Payment will be made on July 8, 2014, to stockholders of record at the close of business on June 16, 2014.

This is the 'Weekly Market Wrap' for Friday, May 30, 2014. Please join us on Monday for the Week Ahead Market Report.

For MarketNewsVideo.com, I'm Sayoko Murase.