Weekly Market Commentary

Information Flow
Equity markets rebounded last week as investors continue to absorb new information on the economy, government spending, and proposed tariffs at rapid speed. For the week, the S&P 500 Index was +1.5%, the Dow Jones Industrials +0.6%, and the NASDAQ +2.5%. The S&P 500 Index was led by the Technology, Communication Services, and Consumer Staples sectors, while the Health Care, Financials, and Industrials sectors lagged. The 10-year U.S. Treasury note yield decreased to 4.476% at

Love in the Time of Tariffs
Mexico and Canada made border security concessions to avoid tariffs going into effect, but more tariff proposals may be looming for other countries. For the week, the S&P 500 Index was -0.2%, the Dow Jones Industrials -0.5%, and the NASDAQ +0.1%. The S&P 500 Index was led by the Consumer Staples, Real Estate, and Energy sectors, while the Consumer Discretionary, Communication Services, and Industrial sectors lagged. The 10-year U.S. Treasury note yield decreased to 4.488%

Trade Offs
Concerns about Chinese AI competition, a Federal Reserve policy meeting, a mix of earnings reports, and news on tariffs led to a volatile week. For the week, the S&P 500 Index was -1.0%, the Dow Jones Industrials +0.3%, and the NASDAQ -1.2%. The S&P 500 Index was led by the Communication Services, Consumer Staples, and Health Care sectors, while the Technology, Energy, Utility sectors lagged. The 10-year U.S. Treasury note yield decreased to 4.546% at

Action
The S&P 500 Index hit a new high last week before closing lower on Friday. For the week, the S&P 500 Index was +1.8%, the Dow Jones Industrials +2.2%, and the NASDAQ +1.6%. The S&P 500 Index was led by the Communication Services, Health Care, and Industrial sectors, while the Energy, Materials, and Consumer Discretionary sectors lagged. The 10-year U.S. Treasury note yield increased to 4.621% at Friday’s close versus 4.610% the previous week. President

Transition
A more constructive outlook on inflation gave equity markets a boost last week. For the week, the S&P 500 Index was +2.9%, the Dow Jones Industrials +3.7%, and the NASDAQ +1.2%. The S&P 500 Index was led by the Energy, Financials, and Materials sectors, while the Health Care, Consumer Staples, and Communication Services sectors lagged. The 10-year U.S. Treasury note yield decreased to 4.610% at Friday’s close versus 4.767% the previous week. Retail inflation, as

Job Strength
Higher bond yields and a strong December employment report weighed on stocks last week. For the week, the S&P 500 Index was -1.9%, the Dow Jones Industrials -1.8%, and the NASDAQ -2.2%. The only three positive sectors in the S&P 500 Index for the week were the Energy, Health Care, and Materials sectors. The Real Estate, Technology, and Financial sectors saw the biggest downside. The 10-year U.S. Treasury note yield increased to 4.767% at Friday’s