Unify Financial Advisors Weekly Market Update
After strong gains from the previous week, the S&P 500 fell 2.61% amid rising trade tensions and interest rates. Existing home sales saw the slowest appreciation in two years, while new home sales in the US exceeded market expectations in April, 10.9% above the March rate and 3.3% higher than the previous year’s rate. Builders can entice new home buyers with price incentives and mortgage rate buydowns.
Looking Ahead
Investors will monitor key reports, including the FOMC minutes, an updated GDP estimate, and Friday’s Personal Consumption Expenditures inflation data, which is expected to be up 0.1%.
Earnings season is nearly over, with S&P 500 profits estimated to rise 13% year-over-year.. This week, Nvidia headlines a lighter earnings calendar alongside Salesforce, Costco, and Dell.
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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Regards,
David Bennett