Unify Financial Advisors Weekly Market Update
Markets were mixed last week as investors rotated out of AI and technology stocks and into value-oriented sectors. The S&P 500 and NASDAQ posted weekly losses, while the Dow Jones Industrial Average and small-cap stocks finished higher. Crude oil prices also fell to pre-conflict levels.
Economic data varied last week. First-quarter GDP was revised higher to an annualized 2.1%. Personal income and consumer spending both increased in May, but PCE price growth remained stubborn. Initial unemployment claims fell, signaling continued resilience in the labor market.
Weekly Outlook
Markets will be closed on Friday for the Fourth of July holiday, shifting attention to Thursday’s June employment report. Investors will be watching for signs that the labor market remains resilient after May’s stronger-than-expected job growth.
Please read the full Market Week report for details on last week’s market and economic activity.
Follow us on Facebook for these weekly updates and articles at Unify Financial Advisors Facebook Page.
Thank you for reading! You are welcome to contact me directly with questions or comments.
Regards,
David Bennett