Unify Financial Advisors Weekly Market Update
U.S. equities moved higher last week, with the S&P 500 gaining 0.88%, notching its eighth straight week of gains, its longest since 2023. Solid corporate earnings, particularly from the AI sector, helped support technology shares, while easing Treasury yields and lower oil prices added to positive sentiment. Sector leadership came from consumer discretionary, health care, real estate, and utilities, while communication services and industrials lagged.
Economic data was mixed, with housing activity showing softness while weekly jobless claims declined modestly, signaling continued labor market resilience.
Weekly Outlook
Monday, the markets were closed to honor and remember the men and women of the U.S. Armed Forces who gave their lives in service of our country and in the protection of our freedom. Over the short week, investors will focus on the second estimate of first-quarter GDP to assess whether economic growth remains on track. April’s Personal Income Expenditures (PCE) will also be closely watched for further clues on the path of consumer prices and potential Federal Reserve policy direction.
Please read the full Market Week report for details on last week’s market and economic activity.
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Regards,
David Bennett