Unify Financial Advisors Weekly Market Update
Markets finished the abbreviated week higher as a peace deal with Iran boosted investor sentiment and pushed oil prices lower. Stocks advanced despite the Federal Reserve keeping interest rates unchanged and signaling that inflation could lead to a rate hike later this year, with the NASDAQ posting the strongest gains.
Economic data were positive, with stronger retail sales, higher industrial production, and stable unemployment claims, all supporting consumer demand. Housing activity weakened, while rising import and export prices highlighted ongoing inflationary pressures.
Weekly Outlook
Investors will focus on the final estimate of first-quarter GDP and the latest reading on the PCE price index, the Federal Reserve’s preferred measure of inflation, for further clues on the interest-rate outlook.
Please read the full Market Week report for details on last week’s market and economic activity.
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Regards,
David Bennett