Stocks closed higher last week, with the S&P 500 gaining 5.7%, following a turbulent period marked by volatility over U.S. trade policies. Despite initial uncertainty due to fluctuating tariff stances, a rally emerged after President Trump announced a temporary 90-day pause on many proposed tariffs. This optimism led to one of the strongest single-day market rebounds in years, with the S&P 500 surging 9.5% on Wednesday. Wednesday’s historic rally proved the importance of staying invested during times of uncertainty and market volatility.
Inflation eased in March, with the Consumer Price Index (CPI) falling 0.1%, primarily driven by lower gasoline prices, which dropped 6.3%. Over the past 12 months, CPI rose 2.4%, down from 2.8% the prior month. Core CPI, excluding food and energy, increased just 0.1% in March and 2.8% year-over-year, marking the smallest annual gain since March 2021.
On a lighter note, congratulations to the Florida Gators Men’s basketball team for capturing the NCAA Championship! As our March 24 newsletter predicted, the Gators went “all the way.”
Looking Ahead
This week, investors will closely monitor tariff negotiations, upcoming retail sales data, and the industrial production report. Market sentiment remains sensitive to trade policy developments, and any progress toward definitive trade deals could significantly impact market dynamics.
For a more detailed analysis of last week’s markets and economic trends, check out the latest issue of Market Week.
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Regards,
David Bennett