Unify Financial Advisors Weekly Market Update
For the third consecutive week, markets declined amid rising oil prices and escalating tensions in the Middle East. In response, investors moved away from risk assets. The Dow Jones Industrial Average, S&P 500, and Nasdaq all finished the week lower. Meanwhile, crude oil climbed above $98 per barrel, increasing more than 70% this year.
Recent economic data showed mixed signals. While inflation remained relatively stable, the Consumer Price Index increased 0.3% in February and 2.4% year over year, and the Personal Consumption Expenditures Price Index rose 3.1% annually. Economic growth slowed to 0.7% in the fourth quarter. However, employers increased job openings, and homebuyers pushed existing home sales higher. These factors suggest parts of the economy remain resilient.
Weekly Outlook
Looking ahead, investors will watch the upcoming Federal Open Market Committee meeting as policymakers assess inflation and the labor market to determine if interest rate adjustments are necessary. Currently, there is a 99.1% probabiilty that the Fed will hold rates steady.
Please read the full Market Week report for details on last week’s market and economic trends.
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Regards,
David Bennett