Unify Financial Advisors Weekly Market Update
Markets pulled back last week as stronger-than-expected employment data reduced expectations for a near-term interest rate cut. A sharp selloff on Friday, led by technology stocks, pushed major indexes lower, while rising Treasury yields reflected a shift toward a higher-rate outlook.
Economic data remained generally positive, with employers adding 172,000 jobs in May and job openings increasing in April. Manufacturing activity improved, although services-sector growth slowed amid higher costs and ongoing inflation concerns.
Weekly Outlook
This week’s focus will be on the release of May Consumer Price Index (CPI) and Producer Price Index (PPI) data, which will provide insight into inflation.
Please read the full Market Week report for details on last week’s market and economic activity.
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Regards,
David Bennett