Markets remained volatile last week, ultimately closing mostly lower. The S&P 500 declined 0.98%, with consumer discretionary and tech shares struggling. The Dow was the only major index to post a gain, edging up 0.95%. Bond prices rose as Treasury yields declined, crude oil dipped, and gold prices slid after recent gains.
Economic data revealed mixed signals. The second estimate of fourth-quarter GDP showed a 2.3% increase, down from 3.1% in the prior quarter, reflecting slower investment and exports. Meanwhile, the PCE report showed higher personal income and less consumer spending, driving the personal savings rate up to 4.6% in January. Inflationary pressures remain, with the PCE price index increasing 2.5% over the past year, 0.5% higher than the Fed’s 2% target.
This week, the focus will shift to the February jobs report, which could offer further insight into employment trends and wage growth. Investors will also monitor international trade data and developments in US-imposed tariffs.
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