Unify Financial Advisors Weekly Market Update
The stock market experienced a volatile week, with declines early on followed by a rally on Thursday and Friday. The S&P 500 ended the week up 0.10%. Energy was the worst-performing sector, falling nearly 4%, while consumer discretionary and healthcare sectors outperformed.
A cooler-than-expected Consumer Price Index (CPI) report helped boost investor sentiment as it rose 0.2% from September to November, with a 2.7% increase over the past year, indicating waning inflationary pressures. The Jobs Report showed little movement in November, adding 64,000 jobs. Employment rose in healthcare and construction, while the federal government continued to lose jobs. Existing home sales increased 0.5% in November, while the median home price rose 1.2% year-over-year to $409,200.
Weekly Outlook
The preliminary estimate for third-quarter GDP will be released on Tuesday, providing further insights into the economy’s performance following the recent government shutdown. Analysts and strategists are also discussing the potential for a typical year-end “Santa Claus rally”, though with some caution around the sustainability of late-week gains.
Please read the full Market Week report for details on last week’s market and economic trends.
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Regards,
David Bennett