Stocks had another strong week with the S&P 500 up 2.9%; the index has now erased its entire post-Liberation Day decline, closing Friday nearly 18% off the April low. International stocks gained 3.2% to extend their year-to-date lead on the US.
Yields ended the week higher on the back of a robust payrolls report. The 10-year yield rose nearly 0.1% on Friday to end around 4.30%.
Though markets were disappointed by a negative Q1 GDP print driven by a jump in imports, the April jobs report was stronger than expected as the economy added 177,000 jobs and the unemployment rate remained at 4.2%.
A look ahead
The Federal Reserve meets this week and is widely expected to keep interest rates unchanged; investors will focus on Chair Powell’s post-meeting press conference for signals on when rate cuts may resume.
Earnings season continues with 95 companies in the S&P 500 set to report first quarter results this week. Several auto and consumer-related companies will give key updates on tariff impacts and the state of the economy.
Economic releases: ISM Services, FOMC Meeting, Trade balance, Wholesale Inventories.
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