Unify Financial Advisors Weekly Market Update
Equities posted a strong advance last week as geopolitical risks eased and the Strait of Hormuz reopened, improving overall market sentiment. The S&P 500 climbed to a new high while the Nasdaq extended a lengthy winning streak, with large-cap and technology shares leading the move higher. A resurgence of interest in AI-related companies helped drive gains, while crude oil prices dropped notably, prompting some capital to rotate out of commodities.
Economic reports offered a varied picture across key sectors. Price pressures remained evident, with increases in both producer and import prices, largely tied to higher gasoline costs. At the same time, industrial output declined in March, and housing activity softened as existing home sales fell despite price increases. Initial jobless claims moved lower, signaling the labor market remains relatively stable.
Weekly Outlook
The upcoming week features a lighter economic calendar, with the March retail sales report standing out. Meanwhile, the earnings calendar is busy with reports from the healthcare, financial, and industrial sectors. Tesla reports earnings on Wednesday, as investors often look forward to Elon’s colorful comments and outlook.
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