Stocks moved lower last week as the S&P 500 dipped 0.1%, fading early gains. International developed markets fell 1.5% on dollar strength but remain leadership year-to-date.
U.S. Treasury yields declined during a week in which the Federal Reserve (Fed) met, leaving rates unchanged. The curve steepened with the 2-year falling to 3.90% and the 10-year to 4.37%.
The Israel-Iran conflict continued to dominate headlines, pushing oil prices about 9% higher. May retail sales surprised to the downside, falling 0.9% during the month, though remain near all-time highs.
A look ahead
Key data releases in the week ahead include final Q1 GDP and Core PCE inflation—both closely watched for their implications on Fed policy. Consensus expectations are for PCE to rise slightly from the previous reading.
Consumer Sentiment, which has shown signs of recovery, will be released amid ongoing global conflicts. The Israel-Iran conflict remains a key risk, with the potential for further spillovers into energy markets and investor sentiment.
Economic releases: New & Existing Home Sales, U. of Mich. Consumer Sentiment, Q1 GDP, PCE.
Our full report is reserved for clients only. Let’s work together.
A caring advisor can help you uncover opportunities and take on challenges—and provide greater confidence, clarity, simplicity, and direction.
