Unify Financial Advisors Weekly Market Update
Stocks finished higher last week despite renewed trade tensions with China. The S&P 500 rose 1.88%, the Nasdaq climbed 2.01%, and the Dow added 1.60%, led by strong gains in technology and consumer discretionary sectors.
Nvidia $NVDA posted impressive earnings, up 69% from a year ago, despite export restrictions to China negatively impacting revenues. Costco $COST flexed its muscle in the face of tariffs with solid earnings and less reliance on Chinese imports than many retailers.
Encouragingly, inflation continued to moderate as April’s core PCE rose just 0.1% for the month and 2.5% year-over-year. PCE, the Fed’s preferred inflation gauge, is trending toward its 2% target.
Looking Ahead
Tuesday’s JOLTS and Friday’s jobs report will provide fresh employment data. Moderating inflation and a strong jobs market would paint a good economic picture.
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