Post by LCG Associates, Inc.

Weekly Market Update: U.S. equities extended their winning streak for an eighth consecutive week, the longest streak since late 2023. The dominance of mega-cap tech in driving overall market earnings became clear after the Magnificent Seven reported, with the group posting roughly 63% average first-quarter growth—far exceeding the 17% growth of the rest of the S&P 500 and marking their strongest quarterly pace in nearly six years. U.S. consumer sentiment fell to a record low in May, declining for a third consecutive month as higher energy costs weighed on confidence, with the University of Michigan index revised down to 44.8 from a preliminary 48.2 and well below its February peak of 56.6. Inflation-driven volatility in bond markets intensified early in the week, with the 30-year Treasury yield reaching 5.18%—its highest level since 2007—before easing modestly, while the 10-year yield ended the week still elevated at 4.56%, near its highest level in the past year. https://lnkd.in/dn_22Uh