Post by LCG Associates, Inc.

Weekly Market Update: U.S. equities extended their winning streak to a ninth consecutive week, the longest run since late 2023, with the NASDAQ gaining 2.4%, the S&P 500 adding 1.4%, and the Dow rising 0.9%. Wall Street's confidence in second-quarter corporate profits continued to build, with analysts lifting their S&P 500 earnings forecasts by 2.5% over April and May, a steady upward drift that reflects resilience in the earnings outlook despite broader macroeconomic headwinds. Inflation remained stubborn, with PCE price index running at an annual rate of 3.8% in April, the highest since May 2023, while core PCE held at 3.3%. Separately, the Commerce Department revised first-quarter GDP growth down to 1.6% from an initial estimate of 2.0%, reflecting softer consumer spending and business investment. Oil prices fell for a second straight week, with U.S. crude trading near $88 per barrel on Friday, down roughly 10% for the week and approximately 17% for May, as optimism over the latest round of U.S.–Iranian negotiations eased supply concerns that have weighed on energy prices. https://lnkd.in/dn_22Uh