Equities Bounce Back with Strong Gains to Start the Month Equities started off May with solid gains as the S&P 500 rallied 3.4% this week. The NASDAQ fared better with a 4.5% advance as Apple posted its largest single day gain in 18 months. Core bonds were up 1% as the positive correlation between equities...
Disappointing Progress on Inflation Attention this week was on Federal Reserve Chair Powell and the Federal Open Market Committee (FOMC) as the meeting ended with affirmation of no rate cut following recent disappointing progress in bringing inflation down. It will take “longer than expected” for the committee to gain enough confidence that inflation is on...
Equity markets rose during the week, reversing the slide seen earlier in April. The S&P 500 finished up 1%, while the NASDAQ rose 0.2%. The Magnificent 7 underperformed the broader markets during the week. Small caps significantly outperformed large caps, rising 2.8%. Treasury yields rose slightly, with bond indices down 0.2% during the week. Crude...