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War hopes, sliding oil prices, and a surge in tech combined for a massive finale on Friday. All three major indices closed out at new record highs to score wins for the day, the week, and for the month of May.
New developments in the war with Iran, both in the Middle East and back here at home, continue to come out rapidly. For the very latest news on the conflict, and the impacts, updates can be found here.
The war's persistent impacts on inflation show no signs of easing. April's personal consumption expenditures index gained again as energy costs pushed the PCE to its highest annual read in nearly 3-years.
A cool-off in consumer spending beyond high gas prices took its toll on economic growth late in the first quarter. A revised estimate of Q1 GDP indicates that actual growth wasn't as strong as first thought.
As the war drags on, gas prices remain at painfully high levels. What hasn't stayed high, critical oil reserves siphoned off by the war. Now, the industry says if supply doesn't bounce back, prices could surge.
The new week will be centered around a trio of major topics. Most importantly, of course, the possible end to the war. Here at home, the latest jobs report grabs the spotlight along with more tech earnings.
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