Unify Financial Advisors Weekly Market Update
Investor sentiment improved last week, lifting equities as geopolitical concerns eased, US manufacturing improved, and early earnings results came in stronger than expected. Strength in mega-cap technology stocks drove the NASDAQ Composite to a notable 10-day winning streak, and the S&P 500 approached record levels. Gains were led by information technology, energy, and consumer staples, while health care and financials lagged.
On the economic front, data pointed to continued consumer resilience alongside a stable labor market. Retail sales rose in March, driven in part by strong online spending and gains in food services. Unemployment claims edged higher but remained relatively low overall, suggesting ongoing labor market stability. Gasoline prices declined modestly week over week but remained significantly higher than a year ago.
Weekly Outlook
Looking ahead, investors will closely watch the first estimate of Q1 GDP along with the Personal Income and Outlays report. Within the latter report, the PCE price index provides insight into inflation trends and influences monetary policy decisions. First-quarter earnings reports from Starbucks, Visa, Alphabet (Google), Microsoft, Meta, Amazon, and Apple will draw investors’ attention.
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