Stocks moved higher last week with the S&P 500 up 1.5% and now 2.3% from the all-time high reached in February. Meanwhile, international developed markets rose just 0.7% on the week but remain a leader year to date.
U.S. Treasury yields were volatile but ended the week higher after a stronger-than-expected jobs report on Friday. The 10-year yield closed the week at 4.5% and the 2-year at 4.0%—both up more than 0.1% on the week.
Despite a busy week of economic data releases, U.S.-China trade negotiations remained in focus as signs of progress emerged.
A look ahead
In the week ahead, consumer and producer prices (CPI & PPI) for the month of May will be key releases as investors look to calibrate Federal Reserve (Fed) rate cut expectations ahead of the June 18 rate-setting meeting.
With a lighter economic data slate, trade and tariff developments will remain in the spotlight. That said, the U.S. debt and deficit continue to be a major market focal point as the reconciliation bill makes its way through the Senate.
