Weekly Commentary

Last Week on Wall Street

S&P 500: -3.05% DOW: 0.01% NASDAQ: -5.52% 10-YR Yield: 4.62%

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Following the worst week of 2024, equities staged a small rebound on Monday, while bonds experienced a decline.

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Last Week on Wall Street

S&P 500: -1.56% DOW: -2.37% NASDAQ: -0.46% 10-YR Yield: 4.52%

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Last Week on Wall Street

S&P 500: -0.95% DOW: -2.27% NASDAQ: -0.79% 10-YR Yield: 4.40%

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As the first trading week of April unfolds, both bonds and stocks witnessed a decline prompted by increasing speculation around a more cautious approach to Federal Reserve interest rate cuts. This market sentiment is partially fueled by the surprising expansion in U.S. manufacturing activity, the first instance since September 2022.

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Last Week on Wall Street

S&P 500: 0.34% DOW: 0.34% NASDAQ: -0.38% 10-YR Yield: 4.21%

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Wall Street experienced cautious trading to kick off the shortened trading week. The Federal Reserve's preferred inflation report, the PCE index, is at the forefront of investors' minds, due on Friday when markets are closed.

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Last Week on Wall Street

S&P 500: 2.29% DOW: 1.97% NASDAQ: 2.85% 10-YR Yield: 4.20%

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Equity markets kicked off the week on a strong note, rebounding from previous weeks' sluggish performance, particularly within the mega-cap sector.

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Last Week on Wall Street

S&P 500: -0.13% DOW: -0.02% NASDAQ: -0.70% 10-YR Yield: 4.30%

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It's a data-packed week after a stronger-than-expected jobs report last Friday. Equities opened up lower while bonds were little changed.

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Last Week on Wall Street

S&P 500: -0.26% DOW: -0.93% NASDAQ: -1.31% 10-YR Yield: 4.07%

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Markets struggled to gain traction to start the week as traders are awaiting the flood of jobs data and Fed speak. Jerome Powell is speaking twice during the week and is expected to hold the line on his recent no rush to cut message. However, if we get much cooler labor market data, it would reinforce market bets for a cut in the Summer.

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Last Week on Wall Street

S&P 500: 0.95% DOW: -0.11% NASDAQ: 1.74% 10-YR Yield: 4.18%

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Nearly all asset classes saw small moves to start the week as traders waited for key economic data and Fed Speak. After hotter-than-expected inflation readings from the CPI report earlier in the month, many will be watching the PCE index numbers on Thursday for more insight into the reflation threat.

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Last Week on Wall Street

S&P 500: 1.66% DOW: 1.30% NASDAQ: 1.49% 10-YR Yield: 4.26%

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Stocks faltered out of the gates as investors continued to price in less conviction on rate cuts over 2024. Just a few weeks ago, bets on lower rates were at the forefront of minds until hotter-than-expected economic data began to re-adjust those expectations.

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Last Week on Wall Street

S&P 500: -0.42% DOW: -0.11% NASDAQ: -1.34% 10-YR Yield: 4.29%

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Week of February 12th

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Last Week on Wall Street

S&P 500: +1.37% DOW: +0.04% NASDAQ: +2.31% 10-YR Yield: 4.19%

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Week of February 5th

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Last Week on Wall Street

S&P 500: +1.38% DOW: +1.43% NASDAQ: +1.12% 10-YR Yield: 4.03%

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Stocks are having another strong week as the S&P 500 hit new highs yesterday propelled by robust performances out of mega caps. As the week unfolds, investor attention is keenly focused on the upcoming earnings reports from tech giants, particularly Alphabet and Microsoft, which are slated to release their financial results post-market.

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