Market views heading into the week highlight what we're watching and important news ahead.
Investment Advisory Group
Truist Advisory Services, Inc.
A look back
Though equities were mostly up for the month, most indices were negative last week. The S&P 500 dropped 0.5% while international developed markets declined less than 0.1% and emerging markets fared the worst, down over 3%.
Front-loaded U.S. Treasury auctions put pressure on yields to rise before dropping later in the week. The 2-year yield dropped by 0.07% whereas the 10-year yield was up 0.03%.
Core Personal Consumption Expenditures (PCE), came in slightly cooler than last month, as expected, with the year-over-year pace dropping slightly below 2.8%.
A look ahead
The European Central Bank is widely expected to lower its borrowing rate this week after five meetings on hold since last September.
The May jobs report will be released with consensus expectations for a gain of 190k and for the unemployment rate to stay steady at 3.9%. The labor force participation rate and any revisions will also be important for markets.
