Market Pulse

May 3

  IndexLast Week1-Month (Trailing)YTD
DJIA
      +0.32%
      +5.81%
      +2.75%
S&P 500
      +0.85%
      +8.92%
      +5.54%
Nasdaq
      +1.74%
      +13.47%
      +8.12%
Russell 2000
      +0.67%
      +10.38%
      +13.21%
MSCI EAFE
      -1.62%
      +5.94%
      +6.41%
MSCI EM
      +0.48%
      +11.92%
      +16.88%
Bloomberg U.S. Agg
      -0.18%
      +0.91%
      +0.82%
Bloomberg U.S. Corp HY
      +0.12%
      +1.88%
      +1.67%
Data as of: Friday, May 1, 2026

See important disclosures below.

Weekly Recap

04/27/2026 - 05/01/2026

U.S. Economy

```
Q1 GDP +2.0%, steady growth continues
```
```
Fed holds rates, rare internal dissents
```

Equity Market

S&P, Nasdaq extend multi-week rally, new highs

Strong earnings, big tech mixed performance

Bond Market

```
Treasury yields rise, curve flattens
```
```
Markets price prolonged Fed pause
```

Around the Globe

Oil surges on Iran conflict, supply concerns

Europe faces stagflation risk from energy shock

The Week Ahead…

05/04/2026 - 05/08/2026

Mon

```
Factory Orders (Mar)
```

Tyson Foods, Norwegian Cruise Line, Palantir

Tue

```
Trade Balance (Mar)
```
```
ISM Services (Apr)
```

Pfizer, Shopify, PayPal, AMD, Occidental

Wed

```
ADP Employment (Apr)
```
```
Uber, Disney, CVS Health, Marriott
```

Thu

```
Jobless Claims
```
```
Productivity (Q1 prelim)
```

McDonald’s, Coinbase, Airbnb, Lyft, Wynn

Fri

```
Nonfarm Payrolls (Apr)
```
```
Unemployment Rate (Apr)
```
```
Michigan Sentiment (May prelim)
```

The week ahead features a heavy mix of economic data and peak earnings season, with markets focused on confirming the durability of recent growth trends. Monday is relatively quiet, highlighted by March factory orders, before attention quickly shifts to a packed Tuesday. Key releases include March trade balance, April ISM Services, JOLTS, and new home sales, offering a broad read on demand, labor dynamics, and housing activity.

Labor market data will take center stage midweek. Wednesday brings the April ADP employment report, setting the tone for Friday’s closely watched nonfarm payrolls, unemployment rate, and wage data. Thursday adds additional labor and productivity context with jobless claims and preliminary Q1 productivity figures, helping refine expectations for growth and inflation.

Earnings remain a major driver, with notable reports from companies like Pfizer, Shopify, PayPal, Disney, Uber, McDonald’s, and Airbnb. The breadth of results across consumer, tech, and travel sectors should provide valuable insight into spending trends and corporate outlooks amid ongoing geopolitical and macro uncertainty.

-Matt Shaw, CFA

Like this update? Sign up for our Daily Market Update.

This report and the opinions provided herein are for informational purposes only, are not a solicitation, and should not be considered investment advice or a recommendation to buy, sell, or hold any particular security or investment. All opinions expressed herein constitute the author’s judgement as of the date of this document and are subject to change without notice. Statements made are not facts, including statements regarding trends, market conditions and the experience or expertise of author are based on current expectations, estimates, opinions and/or beliefs. Such statements are not facts and involve known and unknown risks, uncertainties and other factors. Past events and trends do not predict or guarantee or indicate future events or results. Information cited in this report has been drawn from sources believed to be reliable and was captured at a point in time. Therefore, the data is subject to change and its accuracy is not guaranteed. DJIA, S&P, Russell 2000, and NASDAQ indices are referenced directly; MSCI EAFE, MSCI EM, BB U.S. Aggregate, Bloomberg U.S. Corp. HY, and all sector figures refer to the respective ETFs as a representative figure. Ategenos Capital, LLC d/b/a AC Wealth Partners does not own or control and is not affiliated with any third-party content provided via hyperlink, quoted, or cited herein. Investors seeking more information should contact their financial advisor. Investing involves risk, including the possible loss of principal. It is not possible to invest directly in an index. Past performance does not guarantee future results. AC Wealth Partners is an investment adviser registered with the SEC. SEC registration does not imply any specific level of training or skill.

Matt Shaw