Market Pulse

Market Pulse

May 6, 2024

Market views heading into the week highlight what we're watching and important news ahead.

A look back

  • Stocks continued higher last week with the S&P 500 gaining 0.6%. After faltering early in the week, stocks rose due in part to positive reactions to earnings and jobs data.
  • Yields fell last week, snapping a four-week upward trend. The 2-year U.S. Treasury yield ended the week at 4.80% and the 10-year at 4.50%, 0.19% and 0.16% lower, respectively.
  • The Federal Reserve (Fed) left rates unchanged and slowed balance sheet runoff. During the press conference, Fed Chair Powell’s comments were not overly hawkish or dovish.

A look ahead

  • As earnings season winds down, 51 companies in the S&P 500 will report first quarter results this week. Investors will be looking for additional signals of improved earnings growth and optimistic management commentary.·      
  • In a light week of economic data releases, attention will largely be on several Fed officials’ speaking engagements, while also keeping a pulse on various global geopolitical matters.·      
  • Economic Releases: Univ. of Michigan Consumer Sentiment, MBA Mortgage Applications

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