Market Pulse

May 16

  IndexLast Week1-Month (Trailing)YTD
DJIA
      -0.08%
      +2.28%
      +3.13%
S&P 500
      +0.35%
      +5.72%
      +8.47%
Nasdaq
      +0.03%
      +9.32%
      +12.96%
Russell 2000
      -2.09%
      +3.23%
      +12.87%
MSCI EAFE
      -2.10%
      -1.48%
      +5.99%
MSCI EM
      -4.08%
      +4.77%
      +19.11%
Bloomberg U.S. Agg
      -0.52%
      -0.68%
      -0.08%
Bloomberg U.S. Corp HY
      -0.14%
      +0.00%
      +1.23%
Data as of: Friday, May 15, 2026

See important disclosures below.

Weekly Recap

05/11/2026 - 05/15/2026

U.S. Economy

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Core CPI and PPI topped expectations
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Trump-Xi summit produced no breakthrough

Equity Market

S&P reached records despite weak breadth

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Energy led as crude prices surged
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Bond Market

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Treasury yields rose across curve
```
```
Thirty-year yield moved above 5%
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Around the Globe

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WTI crude jumped 10.5%
```
```
Iran and Hormuz uncertainty persisted
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The Week Ahead…

05/18/2026 - 05/22/2026

Mon

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NAHB Housing Market Index
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TIC flows
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Earnings: Baidu, iQIYI
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Tue

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Pending Home Sales
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ADP weekly employment
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Earnings: Home Depot, CAVA, Toll Brothers

Wed

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FOMC minutes
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Mortgage applications
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Earnings: Nvidia, Intuit, Target, TJX
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Thu

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Housing starts and permits
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PMIs and Philly Fed
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Earnings: Walmart, Deere, Workday
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Fri

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Leading Indicators
```
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Michigan Sentiment (Final)
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```
Earnings: BJ’s, Booz Allen
```

Next week brings a lighter but still important economic calendar, with housing and consumer sentiment in focus. Monday starts with the NAHB Housing Market Index and TIC flows, followed by Tuesday’s pending home sales and ADP weekly employment update. These releases should help frame whether higher rates and inflation pressures are weighing further on housing activity and labor demand.

The key macro event arrives Wednesday with the release of FOMC minutes. Investors will look for additional clues on how policymakers are thinking about sticky inflation, recent energy-driven price pressures, and the timing of any potential rate cuts. Thursday adds housing starts, building permits, flash PMIs, and the Philly Fed Index, giving markets a broader read on construction, manufacturing, and services momentum.

Earnings remain active, especially in retail and technology. Nvidia’s Wednesday report is the clear highlight, while Home Depot, Target, TJX, Walmart, Deere, Workday, and Intuit should offer timely insight into consumer spending, AI demand, and corporate investment trends.

-Matt Shaw, CFA

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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