Market Pulse

Index	Last Week	1-Month (Trailing)	YTD
DJIA	+0.00%	+3.32%	+2.99%
S&P 500	+2.17%	+8.91%	+7.91%
Nasdaq	+4.35%	+15.78%	+12.75%
Russell 2000	+1.42%	+8.87%	+14.95%
MSCI EAFE	+1.62%	+1.53%	+8.04%
MSCI EM	+5.74%	+12.19%	+23.94%
Bloomberg U.S. Agg	+0.05%	-0.18%	+0.23%
Bloomberg U.S. Corp HY	+0.02%	+0.55%	+1.35%

Data as of: Friday, May 8, 2026

See important disclosures below.

Weekly Recap

05/04/2026 - 05/08/2026

U.S. Economy

• April payrolls beat expectations; unemployment held near 4.3%

• Senate may vote on Warsh Fed nomination Monday

Equity Market

• S&P 500 posted sixth-straight weekly gain

• Tech stocks led; semiconductors rallied over 11% weekly

Bond Market

• Treasury yields little changed; curve flattened modestly

• Markets price no Fed cuts through 2027

Around the Globe

• Oil fell as Iran diplomacy optimism increased

• Norway unexpectedly raised rates amid inflation concerns

The Week Ahead…

05/11/2026 - 05/15/2026

• Mon

  • Existing Home Sales (Apr)

  • Fox, Mosaic, Simon Property earnings

• Tue

  • CPI (Apr)

  • NFIB Small Business Index (Apr)

  • Under Armour, Zebra, On Holding earnings

• Wed

  • PPI (Apr)

  • Cisco, Alibaba, Doximity earnings

  • Fervo Energy, Global Medical IPOs

• Thu

  • Retail Sales (Apr)

  • Weekly Jobless Claims

  • Applied Materials, Yeti, Klarna earnings

• Fri

  • Industrial Production (Apr)

  • Capacity Utilization (Apr)

  • Empire Manufacturing (May)

Markets will closely watch a heavy slate of inflation and consumer data next week as investors continue assessing the Fed’s path following stronger-than-expected April payrolls and increasingly hawkish commentary from policymakers. Tuesday’s CPI report will likely be the biggest focal point of the week, followed by Wednesday’s PPI release and Thursday’s retail sales data. Investors will also monitor existing home sales, industrial production, and weekly jobless claims for additional signs around consumer resilience and economic momentum.

Fed policy will remain in focus as markets continue pricing out near-term rate cuts. NY Fed President John Williams is scheduled to speak Thursday, while a potential Senate vote on Fed Chair nominee Kevin Warsh could also draw attention early in the week.

Earnings season slows but remains active, with reports from companies including Fox, Alibaba, Cisco, Applied Materials, and Simon Property Group. IPO markets also remain busy, highlighted by upcoming offerings from Cerebras Systems, Fervo Energy, and Blackstone’s Digital Infrastructure Trust.

-Matt Shaw, CFA

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