M Notes: Mon, 5-4
| Week Close: 5-1-25 | + (-) | % | Apr % | |
|---|---|---|---|---|
| Dow | 49,499 | +268 | +0.5% | +7.1% |
| S&P | 7,230 | +65 | +0.9% | +10.4% |
| Nasdaq | 25,114 | +277 | +1.1% | +15.3% |
| R2000 | 2,813 | +20 | +0.9% | +12.2% |
| 10-year | 4.37 | +0.06 | +1.4% | +1.2% |
| Oil | 101.94 | +7.06 | +7.4% | +3.8% |
LAST WEEK:
Markets: The Nasdaq closed above 25,000 for the first time last week. April was a stunning rebound for Markets.
S&P roller coaster last week: Up, Down, Down a touch, Up a lot, and Up.
Durable Goods: They were up +0.8% in March, and were also up +0.8% Y/Y.
Fed Balance Sheet: $6.700 Trillion. Down $7 Billion last week.
Fed Meeting: Even though the Fed investigation into Jerome Powell’s oversight into building renovations has been dropped by the DOJ, Powell indicated at his last Fed Chair press conference that he will stay on as a Governor. The charges were unprecedented, but so is Powell’s decision to stay on. Powell’s term as a Fed Governor expires on 1/31/2028. He says he has every intention to keep a low profile. We’ll see.
GDP: The first read on Q1 GDP came in at +2.0%.
Housing: Starts were up +10.8% in March, and were also up +10.8% Y/Y.
Inflation: The PCE, the metric the Fed watches the most, was up +0.7% in March. It rose from +2.8% to +3.5% Y/Y.
ISM: Their Manufacturing index remained at 52.7 for April. A number below 50 implied a contraction, while a number above 50 implied an economic expansion.
Metals: Gold finished the week at $4,619. Silver finished the week at $76.
National Debt: $39.199 Trillion.
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THIS WEEK:
Focus of the week: It comes on Friday when we get the new Jobs & Unemployment numbers. Expectations are for 60,000 new jobs. The U3 Unemployment rate is expected to remain at 4.3%.
Calendar: Factory Orders (Mon); Trade Deficit, New Home Sales, ISM Services index (Tue); ADP employment report (Wed); and the new Jobs & Unemployment numbers (Fri).
Earnings: some of the companies reporting this week: Citigroup, Eaton, IBM, ParkerHannifin, Pfizer, Texas Instruments, and Walmart.
* The Standard & Poor's 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general. The Dow Jones Industrial Average is a price-weighted index of 30 actively traded blue-chip stocks. The NASDAQ Composite Index is an unmanaged, market-weighted index of all over-the-counter common stocks traded on the National Association of Securities Dealers Automated Quotation System. Yahoo! Finance, the Wall Street Journal, Investor’s Business Daily and Barron’s are several of the sources used for financial information.
* The National Debt figure comes from usdebtclock.org.
* Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. Consult your financial professional before making any investment decision. You cannot invest directly in an index. Past performance does not guarantee future results. No strategy can assure a profit or protect against a loss. Investments in the securities markets involve risk, such as loss of your principal.