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
Stocks took another leg higher last week as the S&P 500 touched another all-time high driven by mega-cap tech stocks again. The S&P 500 was up 0.6% on the week while international developed markets were up only 0.1%.
U.S. Treasury yields took a pause last week from their recent drop. The 10-year and 2-year Treasury yields were up on the week very modestly, only by about 0.03%.
The latest report on U.S. retail sales showed that spending slowed down in May. Many economists had expected an increase after April saw a decline, but the monthly change was only 0.1%.
A look ahead
The U.S. Treasury will sell $183 billion of notes this week. A 2-, 5-, and 7-year auction will test demand at lower yields compared to last month.
The Federal Reserve’s preferred inflation gauge, core PCE, will be released this week with expectations for a cooling compared to April’s figures.
Economic releases:, New Home Sales, Durable Goods Orders, Personal Income and Spending, Personal Consumption Expenditure (PCE) Deflator, U. of Michigan Consumer Sentiment.
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