Stocks started in the red last week following the DeepSeek AI news, but they managed to claw back most of their losses throughout the week. However, following the tariff announcement Friday afternoon, stocks sold off, and the S&P 500 finished the week down -1.00%. We saw solid earnings from big tech companies, Meta, Microsoft, and Apple. On the economic side, inflation seems to have stalled, growth remains solid on the back of strong consumer spending, and the Federal Reserve held interest rates steady.
Tariffs on China, Canada, and Mexico will continue to dominate this week. The Trump administration’s aggressive stance on tariffs could be a power play for negotiating reasonable terms for the US and its trade partners. The Employment Situation release and corporate earnings from Chipotle, Disney, Uber, and Amazon will steal some of the limelight this week.
For a more detailed analysis of last week’s markets and economic trends, check out the latest issue of Market Week.
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David Bennett