With a week left in the month of May, let’s go on a quick tour of the financial markets.
Month-to-date the S&P 500, as of Friday’s close, is down half a percent. The benchmark index is basically where it was on April 15th. What has performed nicely thus far this month are Non-U.S. developed stocks. The main index here is the MSCI EAFE index, and it has returned over 2%. Gold and broad-based commodities have also provided a nice return this month as well.
For the week ahead, a good amount of economic data is scheduled to be released. We get additional housing data this week, and housing is getting extremely interesting with some softness on the sales side and a slight move higher in inventory. We get consumer confidence data as well and we expect a continued move higher as the economy starts to fully reopen. Speaking of the consumer, we also get income, spending, and savings data. So, a busy week … we’ll see how it all plays out relative to expectations.
This has been your Weekly Market Minute, and we’ll see you on Monday – prefer to listen or watch? Check out our video & audio formats below: