Markets
Stocks roared higher last week, powered by upbeat trade news and tame inflation reports.
The Standard & Poor’s 500 Index rose 5.27 percent, while the Nasdaq Composite Index spiked 7.15 percent. The Dow Jones Industrial Average added 3.41 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, increased 0.80 percent.1,2
Markets Bounce Back, (think Bungee jump market)
Stocks pushed higher on Monday as investors cheered weekend news that the U.S. and China temporarily agreed to back off steep reciprocal tariffs.3
Then, a mild inflation report for April—the slowest annualized Consumer Price Index (CPI) reading in four years—boosted markets on Tuesday. Tech stocks powered the rally as the S&P 500 closed trading in the green for the year.4,5
Markets closed the week with modest gains, largely looking past weak consumer sentiment data released on Friday.
Friday was the Dow’s turn to erase year-to-date losses and get back in the green while the Nasdaq and S&P notched a five-day winning streak.
New economic news to ‘chew on’
The retail (CPI) and wholesale inflation reports (Producer Price Index) were mild, although most economists didn’t expect tariffs to impact prices in the first month of implementation.
Retail sales ticked up slightly (as expected), while industrial production and housing starts showed signs of tariff impact.6,7
Expect traders to continue to closely watch economic reports to better understand whether tariffs are showing up in the data.
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