Weekly Insight | May 25, 2022
Softening in the Housing Market
There was a little more softening in the housing market this week. April existing home sales were down 2.4% from March.
Softening in the Housing Market
There was a little more softening in the housing market this week. April existing home sales were down 2.4% from March.
Retail Sales Increase
There was an increase in retail sales through April. Retailers sold 0.9% more than the previous month. Taking out autos, retail sales grew by 0.60%.
Sharp Reversal Sends Risk Assets Lower
The massive rally post-Federal Open Market Committee meeting last Wednesday turned out to be a head fake. This week saw significant losses in risk assets.
The Fed Hikes Rates by 50 Basis Points for the First Time Since 2000
The S&P 500 ended the week up 2.8%, with all the gains coming in the last two hours on Wednesday.