Unify Financial Advisors Weekly Market Update
Markets extended their recent pullback last week, as stocks remained under pressure from geopolitical uncertainty and sharp moves in energy prices. Major indexes, including the Dow, S&P 500, and Nasdaq, all finished lower. The Nasdaq slipped deeper into correction territory, while small-cap and global stocks showed relative resilience.
On the economic front, recent data pointed to building price pressures. Both import and export prices posted their strongest monthly gains in nearly two years, driven in part by higher fuel costs and uncertainty. At the same time, labor market conditions remain steady overall. Initial jobless claims rose modestly, but continuing claims declined. Consumers are feeling the impact of rising energy costs, as gasoline prices nationwide increase. Oil (WTI) finished the week at $94.43, up 60% year-to-date.
Weekly Outlook
This week’s focus will be on the March employment report, which is expected to show relatively nominal job growth. Investors will also be watching for further developments in the Middle East. With several factors in play, markets may remain sensitive to incoming headlines in the near term.
Please read the full Market Week report for details on last week’s market and economic trends.
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Regards,
David Bennett