Unify Financial Advisors Weekly Market Update
Markets posted mixed results last week as investors reflected on escalating tensions in the Middle East and changes to the FOMC’s economic projections. The S&P 500 slipped 0.15%, bringing its year-to-date gain to 1.47%. Concerns over supply disruptions from the Iranian conflict pushed crude oil up 2.26% to $75 per barrel, its third weekly gain.
Retail sales fell 0.9% in May but remained 3.3% above year-ago levels, with online sales continuing to grow. Housing starts fell nearly 10%, hitting their lowest level since 2020. Import and export prices remained relatively flat, indicating muted inflation.
Looking Ahead
This week, markets will focus on key economic reports, including the final estimate of Q1 GDP, personal income, and outlays data. These reports will offer further insights into inflation trends ahead of the Fed’s next policy meeting in late July. Investors will continue monitoring developments in the Iran war and its global impacts.
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