Unify Financial Advisors Weekly Market Update
The S&P 500 rose 0.71% and reached record highs during the week. Markets were buoyed by optimism around tech sector earnings results, though the Federal Reserve’s cautious tone on future rate cuts tempered gains. The Fed lowered the federal funds rate by 25 basis points to a target range of 3.75%–4.00%, citing signs of a cooling labor market and persistent inflation pressures.
Upbeat earnings from Amazon, Alphabet, Meta, and Microsoft were welcomed, but the market remains concerned about the increased capital expenditures around AI. Meta Platforms, $META, reported record revenue but said it would “aggressively” increase capital expenditures around AI, sending the stock down over 13% on the week.
Weekly Outlook
Economic data releases may remain limited due to the ongoing government shutdown. Market attention will likely stay focused on corporate earnings and any progress on the government shutdown.
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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David Bennett