FactSet Evening Market Recap

US equities were mostly higher in Monday trading. Stocks shook off earlier weakness that was initially driven by Moody's cutting US credit rating from Aaa to Aa1 on Friday. Nothing on the US economic calendar today, but a lot of Fedspeak.

US equities were higher this week as the S&P 500 and Nasdaq both finished up for a third week in the past four. Stocks rallied this week, with the Monday announcement that the US and China would ease trade tensions the biggest catalyst. Data this week included April core CPI and PPI both coming in cooler than expected.

US equities finished mostly higher in Thursday trading, ending a bit off best levels. There were a myriad moving pieces today, including outperformance of defensive leaning sectors that seemed to be sources of funds earlier in the week. And some mixed takeaways from a big morning of economic data

US equities finished mixed in Wednesday trading, with the Dow Jones closing down 21bps, and the S&P500 and Nasdaq finishing up 10bps and 72bps respectively. Fairly directionless trading in today’s session, with nothing particularly incremental on trade, though the White House hinted another deal could be announced when Trump returns from his overseas trip, while media reports said Japan, South Korea deals are close. Fed's Jefferson noted tariffs could slow growth and boost inflation but the Fed is well-positioned in that event.

US equities finished mostly higher in Tuesday trading, though ended off best levels. Positive takes on the cooler April CPI print and upbeat AI headlines surrounding Trump's Middle East trip (president touted Saudi's $600M investment pledge). April core CPI of 0.2% was a bit cooler than consensus 0.3%.

US equities finished notably higher in Monday trading, ending near best levels. Risk assets were boosted by a meaningful de-escalation of US-China trade tensions following weekend talks in Switzerland. It was also busy from a political headline perspective outside of trade.

US equities were mixed this week after putting in a strong performance last week when the S&P reached levels above the early April drop following Trump's reciprocal tariff announcement. Stocks were mostly lower this week on the heels of a recent nine-day S&P 500 winning streak, though losses were partially limited by some positive trade and tariff developments with a focus on de-escalation. Meanwhile, the May FOMC meeting ended with a hold at 4.25-4.5%, as expected.

US equities were higher in Thursday trading, though stocks ended off best levels as the market shed some of its gains in late afternoon weakness. Stocks were underpinned by the latest developments on trade, as the US and UK announced a framework agreement. Meanwhile, Initial jobless claims were down 13K w/w to 228K, in line with consensus.

US equities were higher in very choppy Wednesday trading, a bit off session highs, with the Dow Jones, S&P500, and Nasdaq closing up 70bps, 43bps, and 27bps respectively. FOMC takeaways were mixed, noting the bank is attentive to fears on both sides of its dual mandate though market still pricing in a slightly more dovish Fed outlook. Trump administration is planning to rescind chip curbs and will not enforce Biden-era AI diffusion rule. Bloomberg reported about Apple exploring AI search for its browser causing shares of Alphabet to slump.

US equities were lower in Tuesday trading, though stocks ended a bit off worst levels. S&P 500 finished down for second-straight day. Trade headlines somewhat mixed. March trade balance more negative than expected at record $140.5B.