Unify Financial Advisors Weekly Market Update
Markets advanced again last week as investor optimism remained strong following encouraging economic data and another solid round of corporate earnings. The S&P 500 and Nasdaq Composite both reached new record highs, led by continued strength in technology stocks. Falling oil prices and easing concerns around interest rates also helped support equity markets, even as geopolitical tensions in the Middle East remained elevated. Earnings season has continued to impress, reinforcing confidence in corporate profitability.
Economic reports pointed to a resilient labor market. April payrolls increased by 115,000 while the unemployment rate held steady at 4.3%. Wage growth remained healthy, with average hourly earnings rising 3.6% over the past year.
Weekly Outlook
This week, inflation data will be in focus, with the April Consumer Price Index (CPI) and Producer Price Index (PPI) reports. Other notable prints will be the retail sales and industrial production figures. Volatile energy prices will hinge on geopolitical developments focused on opening the Strait of Hormuz.
Please read the full Market Week report for additional details on last week’s market and economic activity.
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Regards,
David Bennett