Market developments
Equities: Despite economic uncertainty, the S&P 500 remained near record highs, with notable stock movements including a 20-session winning streak for Meta and a surge in Dell shares on news of a $5 billion server deal. Meanwhile, Intel dipped but is still having its best week in over two decades. Overall, the U.S. and Europe saw strong gains, while Canada ended the week slightly positive.
Fixed Income: The bond market saw increased volatility this week, driven by higher-than-expected inflation in the U.S., causing yields to rise. Meanwhile, weak US retail sales data reignited hopes for Federal Reserve interest rate cuts and seeing rates reverse. Overall, the bond market ended the week relatively flat.
Commodities: Oil fell slightly this week due to a market gauge, signaling ample supplies and traders doubting US threats to Iran’s crude exports. Despite bullish factors, oil markets experienced a decrease in geopolitical risks. Reports from the International Energy Agency and the US Energy Information Administration predict a small surplus this year, driving prices lower over the last month.