ClearWater Market Commentary as of April 28th, 2023
Stocks recorded mixed returns as attention focused on the season’s busiest week of quarterly earnings reports.
Stocks recorded mixed returns as attention focused on the season’s busiest week of quarterly earnings reports.
The major benchmarks ended mixed following a week in which first-quarter earnings reports seemed to grab the spotlight from a relatively light economic calendar.
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The major benchmarks ended the week higher, as investors weighed slowing growth signals against signs that inflation pressures were receding a bit more than expected.
The major equity indexes posted solid gains in a relatively quiet week for economic data releases and financial news.
The major equity indexes posted solid gains in a relatively quiet week for economic data releases and financial news.
Major benchmark returns varied widely as banking industry and recession worries weighed on value stocks and small-caps, while large-cap growth stocks benefited from falling interest rates.
The major indexes closed mixed for the week, reflecting the crosscurrents of stresses in the banking sector, worries that a steeper slowdown in the economy would follow, and hopes that the Federal Reserve would now be forced to moderate or even pause in its rate-hiking cycle.
Stocks pulled back sharply over the week, as investors absorbed more tough talk from Federal Reserve Chair Jerome Powell and signs that he and his fellow policymakers still had work to do in cooling inflation and the hot labor market.
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ClearWater Market Commentary as of May 5th, 2023
Despite a rally on Friday, the S&P 500 Index ended the week lower on comments from Federal Reserve Chair Jerome Powell that suggested a pivot to cutting rates might not occur as quickly as the market had hoped.