Market Updates
Key Dates/Data Releases
7/29: International trade in goods, JOLTS
7/30: GDP, FOMC meeting statement
7/31: Personal Income and Outlays
8/1: Employment Situation, S&P Global Manufacturing PMI
The Markets (as of market close July 25, 2025)
The stock market last week had a mixed performance across major indexes, largely influenced by corporate earnings reports and ongoing discussions around trade tariffs. Both the S&P 500 and the NASDAQ reached new record highs last week, driven by strong performances from several big tech companies, which reported better-than-expected profits. In fact, last Friday’s gains marked the fifth straight record close for the S&P 500. Last week was a busy one for second-quarter earnings. Many companies exceeded expectations, while those that missed expectations saw sharp sell-offs. Tariffs remained a significant factor impacting market sentiment. While there’s some enthusiasm for trade deals, the impact of increased tariffs has impacted some market sectors. Speaking of market sectors, 10 of the 11 S&P sectors ended last week higher, with only consumer staples closing the week in the red. Treasury yields showed some movement, with the 10-year Treasury yield easing somewhat. Crude oil prices settled at $65.04, marking their lowest price since June 30 as concerns over a weakening economy brought fears of waning demand.
Stock Market Indexes
Chart reflects price changes, not total return. Because it does not include dividends or splits, it should not be used to benchmark performance of specific investments.
Last Week’s Economic News
- Existing home sales fell 2.7% in June but were unchanged from June 2024. According to the latest report from the National Association of Realtors®, record-high home prices, elevated mortgage rates, and a moderate supply are discouraging some potential home buyers, particularly first-time home purchasers. The median existing-home sale price in June was $435,300, up from the May price of $423,700, and higher than the June 2024 price of $426,900. Inventory ticked up from a 4.6-month supply in May to 4.7 months in June. Sales of single-family existing homes dipped 3.0% last month. The median single-family existing home price was $441,500 in June, compared to $428,800 in May and $432,900 in June 2024. The average 30-year fixed-rate mortgage as of July 17 was 6.75%, according to Freddie Mac, up from 6.72% one week before and down from 6.77% one year ago.
- Sales of new single-family houses in June were 0.6% above the May rate but 6.6% below the June 2024 estimate. Inventory of new single-family homes for sale sat at a 9.8-month supply at the current sales pace, which was 1.0% above the May estimate and 16.7% higher than the inventory for June 2024. The median sales price of new houses sold in June was $401,800. This was 4.9% below the May price of $422,700 and 2.9% below the June 2024 price of $414,000. The average sales price of new houses sold in June was $501,000, 2.0% under the May price of $511,500 but 1.1% above the June 2024 price of $495,500.
- New orders for manufactured durable goods in June, down two of the last three months, decreased $32.1 billion, or 9.3%. Excluding transportation, new orders increased 0.2%. Excluding defense, new orders decreased 9.4%. Transportation equipment was a major contributor to the overall decrease, falling $32.6 billion, or 22.4%. New orders for nondefense capital goods in June decreased $31.4 billion, or 24.0%. New orders for defense capital goods in June decreased $2.0 billion, or 10.2%.
- The national average retail price for regular gasoline was $3.121 per gallon on July 21, $0.009 per gallon below the prior week’s price, and $0.350 per gallon less than a year ago. Also, as of July 21, the East Coast price increased $0.019 to $3.006 per gallon; the Midwest price fell $0.047 to $2.986 per gallon; the Gulf Coast price ticked up $0.001 to $2.739 per gallon; the Rocky Mountain price increased $0.009 to $3.137 per gallon; and the West Coast price fell $0.019 to $4.022 per gallon.
- For the week ended July 19, there were 217,000 new claims for unemployment insurance, a decrease of 4,000 from the previous week’s level. According to the Department of Labor, the advance rate for insured unemployment claims for the week ended July 12 was 1.3%, unchanged from the previous week’s rate. The advance number of those receiving unemployment insurance benefits during the week ended July 12 was 1,955,000, an increase of 4,000 from the previous week’s level, which was revised down by 5,000. States and territories with the highest insured unemployment rates for the week ended July 5 were New Jersey (2.8%), Rhode Island (2.7%), Puerto Rico (2.6%), Minnesota (2.4%), California (2.2%), Massachusetts (2.1%), Washington (2.1%), the District of Columbia (2.0%), Oregon (1.9%), and Pennsylvania (1.9%). The largest increases in initial claims for unemployment insurance for the week ended July 12 were in New York (+10,001), Nevada (+4,397), Texas (+2,984), Georgia (+2,793), and Pennsylvania (+1,942), while the largest decreases were in Michigan (-4,867), New Jersey (-3,206), Tennessee (-2,574), Kentucky (-1,579), and Iowa (-1,385).
Eye on the Week Ahead
Two very important market-moving reports are out this week. The first estimate of gross domestic product for the second quarter is released this week. The economy contracted 0.5% in the first quarter. The Federal Open Market Committee meets this week. It is possible that the FOMC may decide to reduce the federal funds rate at this time, although there appears to be some disagreement among Committee members as to the timing of an interest rate reduction.
Data sources: Economic: Based on data from U.S. Bureau of Labor Statistics (unemployment, inflation); U.S. Department of Commerce (GDP, corporate profits, retail sales, housing); S&P/Case-Shiller 20-City Composite Index (home prices); Institute for Supply Management (manufacturing/services). Performance: Based on data reported in WSJ Market Data Center (indexes); U.S. Treasury (Treasury yields); U.S. Energy Information Administration/Bloomberg.com Market Data (oil spot price, WTI, Cushing, OK); www.goldprice.org (spot gold/silver); Oanda/FX Street (currency exchange rates).
News items are based on reports from multiple commonly available international news sources (i.e., wire services) and are independently verified when necessary with secondary sources such as government agencies, corporate press releases, or trade organizations. All information is based on sources deemed reliable, but no warranty or guarantee is made as to its accuracy or completeness. Neither the information nor any opinion expressed herein constitutes a solicitation for the purchase or sale of any securities, and should not be relied on as financial advice. Forecasts are based on current conditions, subject to change, and may not come to pass. U.S. Treasury securities are guaranteed by the federal government as to the timely payment of principal and interest. The principal value of Treasury securities and other bonds fluctuates with market conditions. Bonds are subject to inflation, interest-rate, and credit risks. As interest rates rise, bond prices typically fall. A bond sold or redeemed prior to maturity may be subject to loss. Past performance is no guarantee of future results. All investing involves risk, including the potential loss of principal, and there can be no guarantee that any investing strategy will be successful.
The Dow Jones Industrial Average (DJIA) is a price-weighted index composed of 30 widely traded blue-chip U.S. common stocks. The S&P 500 is a market-cap weighted index composed of the common stocks of 500 largest, publicly traded companies in leading industries of the U.S. economy. The NASDAQ Composite Index is a market-value weighted index of all common stocks listed on the Nasdaq stock exchange. The Russell 2000 is a market-cap weighted index composed of 2,000 U.S. small-cap common stocks. The Global Dow is an equally weighted index of 150 widely traded blue-chip common stocks worldwide. The U.S. Dollar Index is a geometrically weighted index of the value of the U.S. dollar relative to six foreign currencies. Market indexes listed are unmanaged and are not available for direct investment.
IMPORTANT DISCLOSURES
Spire Wealth Management, LLC is a Federally Registered Investment Advisory Firm. Securities offered through an affiliated company, Spire Securities, LLC., a Registered Broker/Dealer and member FINRA/SIPC.
Neither Spire Wealth Management nor Corbett Road Wealth Management provide tax or legal advice. The information presented here is not specific to any individual’s personal circumstances. Please speak with your tax or legal professional.
These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.
Prepared by Broadridge Advisor Solutions. © 2025 Broadridge Financial Services, Inc.
Key Dates/Data Releases
7/23: Existing home sales
7/24: New home sales
7/25: Durable goods orders
The Markets (as of market close July 18, 2025)
Stocks began last week mostly lower on mixed bank earnings and rising inflation data. While the June Consumer Price Index was in line with expectations (see below), it is worth noting that some imported goods, such as coffee, furniture, clothing, and appliances, climbed higher, which could be due to increased tariffs. However, favorable earnings data toward the end of last week and a better-than-expected retail sales report helped push stocks higher. For most of the week, investors weighed the White House’s push for higher tariffs on the European Union against strong corporate earnings and some favorable economic data. Among the market sectors, utilities and information technology outperformed, while health care, materials, and energy lagged. Long-term bond prices changed little, keeping yields steady. Crude oil prices slipped lower. The dollar edged higher for the second week in a row. Gold prices fell for the first time in the last three weeks.
Stock Market Indexes
Chart reflects price changes, not total return. Because it does not include dividends or splits, it should not be used to benchmark performance of specific investments.
Last Week’s Economic News
- The Consumer Price Index increased 0.3% in June after rising 0.1% in May. The June advance was the highest monthly increase since January 2025. Over the last 12 months, the CPI increased 2.7% after rising 2.4% over the 12 months ended in May. Prices for shelter rose 0.2% in June and were the primary factors in the monthly increase. Energy prices rose 0.9% in June as gasoline prices increased 1.0% over the month. Prices for food increased 0.3%. Prices less food and energy (core prices) rose 0.2% in June following a 0.1% increase in May. Core prices rose 2.9% over the last 12 months.
- Wholesale prices were unchanged in June, according to the latest Producer Price Index from the Bureau of Labor Statistics. Producer prices rose 0.3% in May. For the 12 months ended in June, producer prices rose 2.3% after advancing 2.6% for the 12 months ended in May. Producer prices excluding food and energy were unchanged in June, as were prices excluding food, energy, and trade services. In June, a 0.3% increase in prices for goods was offset by a 0.1% decrease in prices for services. Over the last 12 months, goods prices rose 1.7%, while prices for services advanced 2.7%.
- Import prices advanced 0.1% in June following a 0.4% decrease in May. Higher prices for nonfuel imports more than offset lower prices for fuel imports in June. Prices for imports fell 0.2% from June 2024 to June 2025, matching the 12-month decline for the year ended May 2025. Those were the largest annual decreases since the index fell 0.9% for the year ended February 2024. Prices for exports increased 0.5% in June, after declining 0.6% the previous month. Export prices increased 2.8% for the year ended in June, the largest 12-month rise since the 12-month period ended January 2025.
- Retail sales rose 0.6% in June and climbed 3.9% from June 2024. Retail trade sales were up 0.6% last month, and rose 3.5% from last year. Nonstore (online) retailer sales were up 4.5% from last year, while sales at food service and drinking places were up 6.6% from June 2024.
- Industrial production (IP) beat expectations after increasing 0.3% in June. IP was unchanged in April and May. For the second quarter, IP increased at an annual rate of 1.1%. In June, manufacturing output ticked up 0.1%, and the index for mining decreased 0.3%. The index for utilities rose 2.8%. Total IP in June was 0.7% above its year-earlier level.
- The number of residential building permits issued in June was 0.2% above the May estimate but was 4.4% below the total from 12 months earlier. Issued building permits for single-family homes were 3.7% under the May figure. The number of housing starts in June was 4.6% above the May total but was 0.5% below the June 2024 rate. Single-family housing starts in June were 4.6% below the May figure. Residential housing completions in June were 14.7% below the May estimate and 24.1% under the June 2024 rate. Single-family housing completions in June were 12.5% below the May rate.
- The national average retail price for regular gasoline was $3.130 per gallon on July 14, $0.005 per gallon above the prior week’s price but $0.366 per gallon less than a year ago. Also, as of July 14, the East Coast price decreased $0.033 to $2.987 per gallon; the Midwest price rose $0.052 to $3.033 per gallon; the Gulf Coast price increased $0.053 to $2.738 per gallon; the Rocky Mountain price dipped $0.005 to $3.128 per gallon; and the West Coast price fell $0.034 to $4.041 per gallon.
- For the week ended July 12, there were 221,000 new claims for unemployment insurance, a decrease of 7,000 from the previous week’s level, which was revised up by 1,000. According to the Department of Labor, the advance rate for insured unemployment claims for the week ended July 5 was 1.3%, unchanged from the previous week’s rate. The advance number of those receiving unemployment insurance benefits during the week ended July 5 was 1,956,000, an increase of 2,000 from the previous week’s level, which was revised down by 11,000. States and territories with the highest insured unemployment rates for the week ended June 28 were New Jersey (2.5%), Rhode Island (2.5%), Puerto Rico (2.4%), Minnesota (2.2%), California (2.1%), Massachusetts (2.0%), Washington (2.0%), the District of Columbia (1.9%), Connecticut (1.8%), Oregon (1.8%), and Pennsylvania (1.8%). The largest increases in initial claims for unemployment insurance for the week ended July 5 were in Michigan (+8,854), Tennessee (+3,039), Kentucky (+2,982), New York (+2,279), and Ohio (+1,889), while the largest decreases were in New Jersey (-4,193), Nevada (-2,091), Texas (-1,163), Oregon (-1,003), and Minnesota (-984).
Eye on the Week Ahead
Most of this week’s economic data focuses on the housing sector. The June reports on existing home sales and new home sales are available this week. May saw existing home sales tick up 0.8%. Inventory of existing homes available for purchase increased in May. Higher mortgage rates continued to hinder sales. Conversely, new home sales fell more than 13.0% in May. Despite the slowdown, new home prices continued to increase in May.
Data sources: Economic: Based on data from U.S. Bureau of Labor Statistics (unemployment, inflation); U.S. Department of Commerce (GDP, corporate profits, retail sales, housing); S&P/Case-Shiller 20-City Composite Index (home prices); Institute for Supply Management (manufacturing/services). Performance: Based on data reported in WSJ Market Data Center (indexes); U.S. Treasury (Treasury yields); U.S. Energy Information Administration/Bloomberg.com Market Data (oil spot price, WTI, Cushing, OK); www.goldprice.org (spot gold/silver); Oanda/FX Street (currency exchange rates).
News items are based on reports from multiple commonly available international news sources (i.e., wire services) and are independently verified when necessary with secondary sources such as government agencies, corporate press releases, or trade organizations. All information is based on sources deemed reliable, but no warranty or guarantee is made as to its accuracy or completeness. Neither the information nor any opinion expressed herein constitutes a solicitation for the purchase or sale of any securities, and should not be relied on as financial advice. Forecasts are based on current conditions, subject to change, and may not come to pass. U.S. Treasury securities are guaranteed by the federal government as to the timely payment of principal and interest. The principal value of Treasury securities and other bonds fluctuates with market conditions. Bonds are subject to inflation, interest-rate, and credit risks. As interest rates rise, bond prices typically fall. A bond sold or redeemed prior to maturity may be subject to loss. Past performance is no guarantee of future results. All investing involves risk, including the potential loss of principal, and there can be no guarantee that any investing strategy will be successful.
The Dow Jones Industrial Average (DJIA) is a price-weighted index composed of 30 widely traded blue-chip U.S. common stocks. The S&P 500 is a market-cap weighted index composed of the common stocks of 500 largest, publicly traded companies in leading industries of the U.S. economy. The NASDAQ Composite Index is a market-value weighted index of all common stocks listed on the Nasdaq stock exchange. The Russell 2000 is a market-cap weighted index composed of 2,000 U.S. small-cap common stocks. The Global Dow is an equally weighted index of 150 widely traded blue-chip common stocks worldwide. The U.S. Dollar Index is a geometrically weighted index of the value of the U.S. dollar relative to six foreign currencies. Market indexes listed are unmanaged and are not available for direct investment.
IMPORTANT DISCLOSURES
Spire Wealth Management, LLC is a Federally Registered Investment Advisory Firm. Securities offered through an affiliated company, Spire Securities, LLC., a Registered Broker/Dealer and member FINRA/SIPC.
Neither Spire Wealth Management nor Corbett Road Wealth Management provide tax or legal advice. The information presented here is not specific to any individual’s personal circumstances. Please speak with your tax or legal professional.
These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.
Prepared by Broadridge Advisor Solutions. © 2025 Broadridge Financial Services, Inc.
Key Dates/Data Releases
7/15: Consumer Price Index
7/16: Producer Price Index, industrial production
7/17: Retail sales, import and export prices
7/18: Housing starts
The Markets (as of market close July 11, 2025)
Last week, the Trump administration sent letters to dozens of trading partners informing them of country-specific reciprocal tariff rates ranging from 20% to 50%. The levies were initially slated to take effect on July 9, but were pushed back until August 1, presumably to leave room for continued negotiations. The stock market seemed to shrug off tariff news for much of the week before falling back from Thursday’s record highs on Friday and ending slightly in the red. The dollar and gold prices both advanced during the week. U.S. copper prices soared to all-time highs on Tuesday after President Trump said the United States will impose a 50% tariff on imported copper, a metal that is a critical component in many different types of manufactured goods. And on Friday, Trump announced that a major statement on Russia was forthcoming, which led to a spike in oil prices caused by expectations of additional sanctions on Russian energy.
Stock Market Indexes
Chart reflects price changes, not total return. Because it does not include dividends or splits, it should not be used to benchmark performance of specific investments.
Last Week’s Economic News
- The Treasury budget posted a small surplus of $27.0 billion in June, following May’s $315.7 billion deficit. For fiscal year 2025, the deficit sits at $1,337 billion, compared to $1,273 billion over the same period in the prior fiscal year. To date in FY25, total receipts equaled $4,008 billion, while total outlays were $5,345 billion.
- The national average retail price for regular gasoline was $3.125 per gallon on July 7, $0.039 per gallon below the prior week’s price and $0.364 per gallon less than a year ago. Also, as of July 7, the East Coast price decreased $0.011 to $3.020 per gallon; the Midwest price dropped $0.070 to $2.981 per gallon; the Gulf Coast price declined $0.054 to $2.685 per gallon; the Rocky Mountain price dipped $0.042 to $3.133 per gallon; and the West Coast price fell $0.034 to $4.075 per gallon.
- For the week ended July 5, there were 227,000 new claims for unemployment insurance, a decrease of 5,000 from the previous week’s level, which was revised down by 1,000. According to the Department of Labor, the advance rate for insured unemployment claims for the week ended June 28 was 1.3%, unchanged from the previous week’s rate. The advance number of those receiving unemployment insurance benefits during the week ended June 28 was 1,965,000, an increase of 10,000 from the previous week’s level, which was revised down by 9,000. This is the highest level for insured unemployment since November 13, 2021. States and territories with the highest insured unemployment rates for the week ended June 21 were Puerto Rico (2.4%), Minnesota (2.3%), New Jersey (2.3%), California (2.2%), Rhode Island (2.2%), Washington (2.0%), the District of Columbia (1.9%), Massachusetts (1.9%), Oregon (1.8%), and Pennsylvania (1.8%). The largest increases in initial claims for unemployment insurance for the week ended June 28 were in New Jersey (+4,684), New York (+3,323), Illinois (+1,840), Michigan (+826), and Rhode Island (+587), while the largest decreases were in Pennsylvania (-2,910), California (-2,822), Connecticut (-2,407), Minnesota (-1,508), and Wisconsin (-1,036).
Eye on the Week Ahead
Inflation data for June is available this week with the releases of the Consumer Price Index, the Producer Price Index, and the retail sales report. Overall, inflationary pressures have been generally muted; however, prices ticked up in May. The June data could begin to reflect the impact of tariffs on goods and services prices.
Data sources: Economic: Based on data from U.S. Bureau of Labor Statistics (unemployment, inflation); U.S. Department of Commerce (GDP, corporate profits, retail sales, housing); S&P/Case-Shiller 20-City Composite Index (home prices); Institute for Supply Management (manufacturing/services). Performance: Based on data reported in WSJ Market Data Center (indexes); U.S. Treasury (Treasury yields); U.S. Energy Information Administration/Bloomberg.com Market Data (oil spot price, WTI, Cushing, OK); www.goldprice.org (spot gold/silver); Oanda/FX Street (currency exchange rates).
News items are based on reports from multiple commonly available international news sources (i.e., wire services) and are independently verified when necessary with secondary sources such as government agencies, corporate press releases, or trade organizations. All information is based on sources deemed reliable, but no warranty or guarantee is made as to its accuracy or completeness. Neither the information nor any opinion expressed herein constitutes a solicitation for the purchase or sale of any securities, and should not be relied on as financial advice. Forecasts are based on current conditions, subject to change, and may not come to pass. U.S. Treasury securities are guaranteed by the federal government as to the timely payment of principal and interest. The principal value of Treasury securities and other bonds fluctuates with market conditions. Bonds are subject to inflation, interest-rate, and credit risks. As interest rates rise, bond prices typically fall. A bond sold or redeemed prior to maturity may be subject to loss. Past performance is no guarantee of future results. All investing involves risk, including the potential loss of principal, and there can be no guarantee that any investing strategy will be successful.
The Dow Jones Industrial Average (DJIA) is a price-weighted index composed of 30 widely traded blue-chip U.S. common stocks. The S&P 500 is a market-cap weighted index composed of the common stocks of 500 largest, publicly traded companies in leading industries of the U.S. economy. The NASDAQ Composite Index is a market-value weighted index of all common stocks listed on the Nasdaq stock exchange. The Russell 2000 is a market-cap weighted index composed of 2,000 U.S. small-cap common stocks. The Global Dow is an equally weighted index of 150 widely traded blue-chip common stocks worldwide. The U.S. Dollar Index is a geometrically weighted index of the value of the U.S. dollar relative to six foreign currencies. Market indexes listed are unmanaged and are not available for direct investment.
IMPORTANT DISCLOSURES
Spire Wealth Management, LLC is a Federally Registered Investment Advisory Firm. Securities offered through an affiliated company, Spire Securities, LLC., a Registered Broker/Dealer and member FINRA/SIPC.
Neither Spire Wealth Management nor Corbett Road Wealth Management provide tax or legal advice. The information presented here is not specific to any individual’s personal circumstances. Please speak with your tax or legal professional.
These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.
Prepared by Broadridge Advisor Solutions. ©2025 Broadridge Financial Services, Inc.
Key Dates/Data Releases
7/11: Treasury statement
As of Market Close July 3, 2025
Stocks advanced notably during the Fourth of July holiday-shortened week. Both the S&P 500 and the NASDAQ recorded record highs as investors were encouraged by a better-than-expected labor report (see below). Tech stocks and AI-driven companies moved higher following the White House’s decision to lift export restrictions on chip-design software to China. All 11 market sectors gained last week, led by materials, financials, industrials, and consumer discretionary. The favorable jobs report also helped drive bond yields higher, with 10-year Treasury yields climbing 6.0 basis points. Crude oil prices posted weekly gains, despite slipping at the end of the week. Prices rose during the week after Iran decided to halt cooperation with the United Nations’ nuclear watchdog, which heightened global tensions and threatened production and demand. Gold prices also closed last week higher, after a strong labor report dulled hopes for a Federal Reserve interest rate decrease.
Stock Market Indexes
Chart reflects price changes, not total return. Because it does not include dividends or splits, it should not be used to benchmark performance of specific investments.
Last Week’s Economic News
- Employment grew by 147,000 in June, which exceeded expectations but was in line with the average monthly gain of 146,000 over the prior 12 months. Job gains occurred in state government and health care. The federal government continued to lose jobs. Employment in April and May was revised up by 16,000 combined. The unemployment rate ticked down 0.1 percentage point to 4.1%. The labor force participation rate also dipped 0.1 percentage point to 62.3%, while the employment-population ratio, at 59.7%, was unchanged from the previous month. The total number of unemployed fell by 222,000 to 7.0 million. In June, the number of long-term unemployed (those jobless for 27 weeks or more) increased by 190,000 to 1.6 million, largely offsetting a decrease in the prior month. The long-term unemployed accounted for 23.3% of all unemployed people. Average hourly earnings rose by $0.08, or 0.2%, to $36.30 in June. Over the past 12 months, average hourly earnings have increased by 3.7%. The average workweek edged down by 0.1 hour to 34.2 hours in June.
- The number of job openings in May increased by 374,000 to 7.8 million, according to the latest Job Openings and Labor Turnover Summary. The number of job openings increased in accommodation and food services (314,000) and in finance and insurance (91,000). The number of job openings decreased in federal government (39,000). The number of hires ticked down by about 100,000 to 5.5 million, while the number of total separations was little changed at 5.2 million. In May, the number of layoffs and discharges were little changed at 1.6 million and 1.0 million, respectively.
- The goods and services trade deficit was $71.5 billion in May, up $11.3 billion, or 18.7%, from April. May exports were $279.0 billion, $11.6 billion, or 4.0%, less than April exports. May imports were $350.5 billion, $0.3 billion, or 0.1%, less than April imports. The May increase in the goods and services deficit reflected an increase in the goods deficit of $11.2 billion to $97.5 billion and a decrease in the services surplus of $0.1 billion to $26.0 billion. Year to date, the goods and services deficit increased $175.0 billion, or 50.4%, from the same period in 2024. Exports increased $73.6 billion, or 5.5%. Imports increased $248.7 billion, or 14.8%.
- According to S&P Global, the U.S. manufacturing sector expanded again in June, with operating conditions improving to the greatest degree in over three years. Output increased for the first time since February, while new orders rose for a sixth successive month due to improved domestic and international demand. However, tariffs remained a prevalent theme, notably affecting purchasing decisions and prices. The latest data showed manufacturers increasing their purchases to the greatest extent since April 2022, reflecting efforts to build up inventories given ongoing trade and price uncertainty. Nonetheless, input costs still rose sharply, with inflation hitting its highest level for nearly three years. This prompted a rise in output charges, which increased to the highest level since September 2022.
- The services sector saw expansion in June, but at a slower pace than in the previous month. The S&P Global US Services PMI® Business Activity Index registered 52.9 in June, down from 53.7 in May. The increase in business activity in June marked the 29th successive month of gains. However, business activity in the services sector remained well below levels recorded in the second half of 2024. An increase in domestic economic activity drove the overall June advance, while international sales fell for the third straight month as tariffs and U.S. trade policy uncertainty continued to weigh on foreign demand.
- The national average retail price for regular gasoline was $3.164 per gallon on June 30, $0.049 per gallon below the prior week’s price and $0.315 per gallon less than a year ago. Also, as of June 30, the East Coast price decreased $0.041 to $3.031 per gallon; the Midwest price dropped $0.036 to $3.051 per gallon; the Gulf Coast price declined $0.105 to $2.739 per gallon; the Rocky Mountain price dipped $0.002 to $3.175 per gallon; and the West Coast price fell 0.053 to $4.109 per gallon.
- For the week ended June 28, there were 233,000 new claims for unemployment insurance, a decrease of 4,000 from the previous week’s level, which was revised up by 1,000. According to the Department of Labor, the advance rate for insured unemployment claims for the week ended June 21 was 1.3%, unchanged from the previous week’s rate. The advance number of those receiving unemployment insurance benefits during the week ended June 21 was 1,964,000, unchanged from the previous week’s level, which was revised down by 10,000. States and territories with the highest insured unemployment rates for the week ended June 14 were California (2.2%), Minnesota (2.2%), New Jersey (2.2%), Puerto Rico (2.2%), Rhode Island (2.0%), Washington (2.0%), the District of Columbia (1.9%), Massachusetts (1.8%), Illinois (1.7%), and Pennsylvania (1.7%). The largest increases in initial claims for unemployment insurance for the week ended June 21 were in New Jersey (+5,923), Connecticut (+2,333), Oregon (+1,171), Massachusetts (+1,091), and Rhode Island (+710), while the largest decreases were in Minnesota (-5,193), Pennsylvania (-3,515), Texas (-2,419), Illinois (-1,849), and Virginia (-1,206).
Eye on the Week Ahead
Next week is very light on economic reports, with only the release of the Treasury budget statement for June.
Data sources: Economic: Based on data from U.S. Bureau of Labor Statistics (unemployment, inflation); U.S. Department of Commerce (GDP, corporate profits, retail sales, housing); S&P/Case-Shiller 20-City Composite Index (home prices); Institute for Supply Management (manufacturing/services). Performance: Based on data reported in WSJ Market Data Center (indexes); U.S. Treasury (Treasury yields); U.S. Energy Information Administration/Bloomberg.com Market Data (oil spot price, WTI, Cushing, OK); www.goldprice.org (spot gold/silver); Oanda/FX Street (currency exchange rates).
News items are based on reports from multiple commonly available international news sources (i.e., wire services) and are independently verified when necessary with secondary sources such as government agencies, corporate press releases, or trade organizations. All information is based on sources deemed reliable, but no warranty or guarantee is made as to its accuracy or completeness. Neither the information nor any opinion expressed herein constitutes a solicitation for the purchase or sale of any securities, and should not be relied on as financial advice. Forecasts are based on current conditions, subject to change, and may not come to pass. U.S. Treasury securities are guaranteed by the federal government as to the timely payment of principal and interest. The principal value of Treasury securities and other bonds fluctuates with market conditions. Bonds are subject to inflation, interest-rate, and credit risks. As interest rates rise, bond prices typically fall. A bond sold or redeemed prior to maturity may be subject to loss. Past performance is no guarantee of future results. All investing involves risk, including the potential loss of principal, and there can be no guarantee that any investing strategy will be successful.
The Dow Jones Industrial Average (DJIA) is a price-weighted index composed of 30 widely traded blue-chip U.S. common stocks. The S&P 500 is a market-cap weighted index composed of the common stocks of 500 largest, publicly traded companies in leading industries of the U.S. economy. The NASDAQ Composite Index is a market-value weighted index of all common stocks listed on the Nasdaq stock exchange. The Russell 2000 is a market-cap weighted index composed of 2,000 U.S. small-cap common stocks. The Global Dow is an equally weighted index of 150 widely traded blue-chip common stocks worldwide. The U.S. Dollar Index is a geometrically weighted index of the value of the U.S. dollar relative to six foreign currencies. Market indexes listed are unmanaged and are not available for direct investment.
Important Disclosures
Spire Wealth Management, LLC is a Federally Registered Investment Advisory Firm. Securities offered through an affiliated company, Spire Securities, LLC., a Registered Broker/Dealer and member FINRA/SIPC.
Neither Spire Wealth Management nor Corbett Road Wealth Management provide tax or legal advice. The information presented here is not specific to any individual’s personal circumstances. Please speak with your tax or legal professional.
These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.
Prepared by Broadridge Advisor Solutions. ©2025 Broadridge Financial Services, Inc.
Key Dates/Data Releases
7/1: S&P Global Manufacturing PMI, JOLTS
7/3: Employment Situation, international trade in goods and services, S&P Global Services PMI
As of Market Close June 27, 2025
Wall Street has come a long way from an April sell-off as investor optimism over trade agreements and a cooling of tensions in the Middle East helped lift stocks to record highs last week. The S&P 500 and the NASDAQ each hit new highs. Despite inflationary data coming in slightly above expectations, price pressures remained mostly muted (see below). Several market sectors enjoyed notable gains, led by information technology and financials. Energy and real estate moved lower last week. Crude oil prices, which had been surging, had their worst week since March 2023. Gold lost value for the second straight week as global tensions eased, leading to an increase in global trade that reduced the appeal of safe-haven investments. The dollar continued to tumble, hovering near its lowest level since early 2022. With inflation ticking higher in May, coupled with a decrease in consumer spending and a larger-than-expected contraction in first-quarter gross domestic product, the Federal Reserve may be inclined to resume its interest-rate cutting cycle sooner rather than later.
Stock Market Indexes
Chart reflects price changes, not total return. Because it does not include dividends or splits, it should not be used to benchmark performance of specific investments.
Last Week’s Economic News
- The third and final estimate for first-quarter gross domestic product saw the economy contract 0.5%. Compared to the fourth quarter, when GDP rose 2.4%, the downturn in first-quarter GDP primarily reflected an upturn in imports, which are a negative in the calculation of GDP, a decrease in consumer spending, and a downturn in government spending, which was partly offset by an increase in fixed investment. The increase in imports was likely attributable, in large part, to purchases made in anticipation of price increases due to tariffs. It is expected that growth in imports will slow in the second quarter. Consumer spending, which is a major component of GDP, moved from a 4.0% increase in the fourth quarter to a 0.5% bump in the first quarter.
- Personal income decreased 0.4% in May, according to estimates by the U.S. Bureau of Economic Analysis. Disposable (after-tax) personal income declined 0.6%, while personal consumption expenditures (PCE) decreased 0.1%. The PCE price index for May increased 0.1%. Excluding food and energy, the PCE price index increased 0.2%. Over the last 12 months, the PCE price index increased 2.3%, while prices excluding food and energy rose 2.7%.
- The international trade in goods deficit was $96.6 billion in May, up $9.6 billion, or 11.1%, from April. Exports of goods for May were $179.2 billion, $9.7 billion, or 5.2%, less than April exports. Imports of goods for May were $275.8 billion, essentially unchanged from April imports. Over the last 12 months, exports have risen 6.2%, while imports advanced 2.8%.
- New orders for long-lasting manufactured goods soared 16.4% in May after falling 6.6% in April. New orders for durable goods have risen five of the last six months. New orders for transportation equipment surged 48.3% in May, driving the overall increase for the month. Excluding transportation equipment, new orders ticked up 0.5% last month. Excluding defense, new orders increased 15.5%. Since May 2024, new orders for durable goods rose 6.9%.
- Sales of new single-family houses in May were 13.7% below the April rate and were 6.3% under the May 2024 rate. The estimate of new houses for sale at the end of May represented a supply of 9.8 months at the current sales rate. The month’s supply was above the April estimate of 8.3 months and higher than the May 2024 estimate of 8.5 months. The median sales price of new houses sold in May was $426,600. This is 3.7% above the April price of $411,400 and is 3.0% above the May 2024 price of $414,300. The average sales price of new houses sold in May was $522,200. This is 2.2% above the April price of $511,200 and is 4.6% over the May 2024 price of $499,300.
- Sales of existing homes beat market expectations after unexpectedly rising 0.8% in May, rebounding from April’s 0.5% decline. Despite the May advance, existing home sales were 0.7% below the estimate from a year earlier. Inventory of existing homes for sale ticked up to 4.6 months, slightly higher than the April estimate of 4.4 months. The median existing home sales price in May was $422,800, up from $414,000 in April and higher than the May 2024 price of $417,200. Sales of existing single-family homes rose 1.1% in May and were 0.3% higher than the May 2024 estimate. The median single-family home price in May was $427,800, higher than the April price of $418,000 and above the $422,400 estimate from a year ago.
- The national average retail price for regular gasoline was $3.213 per gallon on June 23, $0.074 per gallon above the prior week’s price but $0.225 per gallon less than a year ago. Also, as of June 23, the East Coast price increased $0.089 to $3.072 per gallon; the Midwest price climbed $0.061 to $3.087 per gallon; the Gulf Coast price increased $0.109 to $2.844 per gallon; the Rocky Mountain price rose $0.063 to $3.177 per gallon; and the West Coast price increased $0.035 to $4.162 per gallon.
- For the week ended June 21, there were 236,000 new claims for unemployment insurance, a decrease of 10,000 from the previous week’s level, which was revised up by 1,000. According to the Department of Labor, the advance rate for insured unemployment claims for the week ended June 14 was 1.3%, unchanged from the previous week’s rate. The advance number of those receiving unemployment insurance benefits during the week ended June 14 was 1,974,000, an increase of 37,000 from the previous week’s level, which was revised down by 8,000. This is the highest level for insured unemployment since November 6, 2021, when it was 2,041,000. States and territories with the highest insured unemployment rates for the week ended June 7 were New Jersey (2.2%), California (2.1%), Massachusetts (2.0%), Rhode Island (2.0%), Washington (2.0%), the District of Columbia (1.9%), Minnesota (1.9%), Puerto Rico (1.9%), Illinois (1.6%), Nevada (1.6%), New York (1.6%), Oregon (1.6%), and Pennsylvania (1.6%). The largest increases in initial claims for unemployment insurance for the week ended June 14 were in Pennsylvania (+3,863), Connecticut (+1,750), Oregon (+1,258), Minnesota (+1,173), and Wisconsin (+846), while the largest decreases were in Illinois (-1,978), California (-1,933), New York (-1,402), Georgia (-1,200), and Iowa (-1,197).
Eye on the Week Ahead
Fourth of July week brings with it the June employment report. Total employment has been steadily dwindling over the past few months. April saw 147,000 (revised lower) new jobs added, while there were 139,000 new jobs reported in May.
Data sources: Economic: Based on data from U.S. Bureau of Labor Statistics (unemployment, inflation); U.S. Department of Commerce (GDP, corporate profits, retail sales, housing); S&P/Case-Shiller 20-City Composite Index (home prices); Institute for Supply Management (manufacturing/services). Performance: Based on data reported in WSJ Market Data Center (indexes); U.S. Treasury (Treasury yields); U.S. Energy Information Administration/Bloomberg.com Market Data (oil spot price, WTI, Cushing, OK); www.goldprice.org (spot gold/silver); Oanda/FX Street (currency exchange rates).
News items are based on reports from multiple commonly available international news sources (i.e., wire services) and are independently verified when necessary with secondary sources such as government agencies, corporate press releases, or trade organizations. All information is based on sources deemed reliable, but no warranty or guarantee is made as to its accuracy or completeness. Neither the information nor any opinion expressed herein constitutes a solicitation for the purchase or sale of any securities, and should not be relied on as financial advice. Forecasts are based on current conditions, subject to change, and may not come to pass. U.S. Treasury securities are guaranteed by the federal government as to the timely payment of principal and interest. The principal value of Treasury securities and other bonds fluctuates with market conditions. Bonds are subject to inflation, interest-rate, and credit risks. As interest rates rise, bond prices typically fall. A bond sold or redeemed prior to maturity may be subject to loss. Past performance is no guarantee of future results. All investing involves risk, including the potential loss of principal, and there can be no guarantee that any investing strategy will be successful.
The Dow Jones Industrial Average (DJIA) is a price-weighted index composed of 30 widely traded blue-chip U.S. common stocks. The S&P 500 is a market-cap weighted index composed of the common stocks of 500 largest, publicly traded companies in leading industries of the U.S. economy. The NASDAQ Composite Index is a market-value weighted index of all common stocks listed on the Nasdaq stock exchange. The Russell 2000 is a market-cap weighted index composed of 2,000 U.S. small-cap common stocks. The Global Dow is an equally weighted index of 150 widely traded blue-chip common stocks worldwide. The U.S. Dollar Index is a geometrically weighted index of the value of the U.S. dollar relative to six foreign currencies. Market indexes listed are unmanaged and are not available for direct investment.
Important Disclosures
Spire Wealth Management, LLC is a Federally Registered Investment Advisory Firm. Securities offered through an affiliated company, Spire Securities, LLC., a Registered Broker/Dealer and member FINRA/SIPC.
Neither Spire Wealth Management nor Corbett Road Wealth Management provide tax or legal advice. The information presented here is not specific to any individual’s personal circumstances. Please speak with your tax or legal professional.
These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.
Prepared by Broadridge Advisor Solutions. ©2025 Broadridge Financial Services, Inc.
Key Dates/Data Releases
6/23: Existing home sales
6/25: New home sales
6/26: Durable goods orders, GDP, international trade in goods
6/27: Personal income and Outlays
As of Market Close on June 20, 2025
Stocks closed the week with mixed results as investors weighed the escalating tensions in the Middle East against the likelihood of the Federal Reserve cutting interest rates amidst an apparent disagreement between Federal Reserve governors. The Dow, the NASDAQ, and the Russell 2000 closed the week higher, while the S&P 500 and the Global Dow ended the week in the red. Information technology and energy were the only market sectors to finish the week higher. Health care fell by more than 2.5%. Crude oil prices rose for the third straight week as heightened tensions between Iran and Israel threatened supply disruptions, although Iran continued to export crude oil, reaching its highest level in five weeks. Gold prices marked their first decline in the last three weeks. Long-term bond prices climbed on increased demand, pulling yields lower.
Stock Market Indexes
Chart reflects price changes, not total return. Because it does not include dividends or splits, it should not be used to benchmark performance of specific investments.
Last Week’s Economic News
- The Federal Open Market Committee (FOMC) decided to maintain the target range for the federal funds rate at 4.25%-4.50% following its meeting last week. In reaching its decision, the Committee noted that economic activity has continued to expand at a solid pace, although swings in net exports have affected the data. The unemployment rate remained low and labor market conditions continued to be solid, while inflation was somewhat elevated. The FOMC observed that uncertainty about the economic outlook had diminished but remained prevalent. The Committee’s summary of economic conditions projects two rate cuts of 25 basis points each by the end of 2025. The FOMC next meets on July 30.
- Retail sales fell 0.9% in May from the previous month but were 3.3% above the May 2024 estimate. Retail trade sales were down 0.9% last month but were up 3.0% from last year. Nonstore (online) retail sales climbed 0.9% in May and advanced 8.3% from last year, while sales at food service and drinking places fell 0.9% in May but rose 5.3% from May 2024.
- Prices for imports were unchanged in May following an advance of 0.1% in April. Import prices rose 0.2% from May 2024. Import fuel prices declined 4.0% in May, the largest monthly decline since September 2024. Prices for nonfuel imports advanced 0.3% in May and rose 1.7% over the last 12 months. Prices for exports decreased 0.9% in May, the largest one-month decline since October 2023. Despite the May decline, export prices increased 1.7% from May 2024 to May 2025.
- Industrial production (IP) fell 0.2% in May after increasing 0.1% in April. Manufacturing output ticked up 0.1% in May, driven by a 4.9% gain in motor vehicles and parts. Manufacturing excluding motor vehicles and parts fell 0.3%. Mining increased 0.1% last month, while utilities decreased 2.9%. Total IP in May was 0.6% above its year-earlier level.
- Building permits issued for privately-owned homes in May were 2.0% below the April rate and 1.0% under the May 2024 estimate. Issued building permits for single-family homes in May were 2.7% below the April total. Privately-owned housing starts in May were 9.8% below the April estimate and 4.6% less than May 2024. The drop in housing starts in May marked the lowest level since May 2020. Single-family housing starts in May were 0.4% above the April approximation. Privately-owned housing completions in May were 5.4% above the April estimate but 2.2% below the May 2024 figure. Single-family housing completions in May were 8.1% above the April rate.
- The national average retail price for regular gasoline was $3.139 per gallon on June 16, $0.031 per gallon above the prior week’s price but $0.296 per gallon less than a year ago. Also, as of June 16, the East Coast price increased $0.034 to $2.983 per gallon; the Midwest price climbed $0.060 to $3.026 per gallon; the Gulf Coast price increased $0.019 to $2.735 per gallon; the Rocky Mountain price rose $0.029 to $3.114 per gallon; and the West Coast price declined $0.027 to $4.127 per gallon.
- For the week ended June 14, there were 245,000 new claims for unemployment insurance, a decrease of 5,000 from the previous week’s level, which was revised up by 2,000. According to the Department of Labor, the advance rate for insured unemployment claims for the week ended June 7 was 1.3%, unchanged from the previous week’s rate. The advance number of those receiving unemployment insurance benefits during the week ended June 7 was 1,945,000, a decrease of 6,000 from the previous week’s level, which was revised down by 5,000. States and territories with the highest insured unemployment rates for the week ended May 31 were New Jersey (2.3%), California (2.2%), Massachusetts (2.1%), Washington (2.1%), Rhode Island (2.0%), the District of Columbia (1.9%), Nevada (1.7%), Puerto Rico (1.7%), Illinois (1.6%), and New York (1.6%). The largest increases in initial claims for unemployment insurance for the week ended June 7 were in California (+8,930), Minnesota (+4,809), Pennsylvania (+3,939), Texas (+3,355), and Florida (+3,088), while the largest decreases were in Kentucky (-4,249), North Dakota (-980), Tennessee (-693), Mississippi (-273), and Kansas (-178).
Eye on the Week Ahead
This week is loaded with important, potentially market-moving economic data. The latest data on sales of new and existing homes is available at the beginning of the week. The final estimate of gross domestic product for the first quarter is released midweek. The week ends with the release of the latest data covering personal income, consumer spending, and consumer prices.
Data sources: Economic: Based on data from U.S. Bureau of Labor Statistics (unemployment, inflation); U.S. Department of Commerce (GDP, corporate profits, retail sales, housing); S&P/Case-Shiller 20-City Composite Index (home prices); Institute for Supply Management (manufacturing/services). Performance: Based on data reported in WSJ Market Data Center (indexes); U.S. Treasury (Treasury yields); U.S. Energy Information Administration/Bloomberg.com Market Data (oil spot price, WTI, Cushing, OK); www.goldprice.org (spot gold/silver); Oanda/FX Street (currency exchange rates).
News items are based on reports from multiple commonly available international news sources (i.e., wire services) and are independently verified when necessary with secondary sources such as government agencies, corporate press releases, or trade organizations. All information is based on sources deemed reliable, but no warranty or guarantee is made as to its accuracy or completeness. Neither the information nor any opinion expressed herein constitutes a solicitation for the purchase or sale of any securities, and should not be relied on as financial advice. Forecasts are based on current conditions, subject to change, and may not come to pass. U.S. Treasury securities are guaranteed by the federal government as to the timely payment of principal and interest. The principal value of Treasury securities and other bonds fluctuates with market conditions. Bonds are subject to inflation, interest-rate, and credit risks. As interest rates rise, bond prices typically fall. A bond sold or redeemed prior to maturity may be subject to loss. Past performance is no guarantee of future results. All investing involves risk, including the potential loss of principal, and there can be no guarantee that any investing strategy will be successful.
The Dow Jones Industrial Average (DJIA) is a price-weighted index composed of 30 widely traded blue-chip U.S. common stocks. The S&P 500 is a market-cap weighted index composed of the common stocks of 500 largest, publicly traded companies in leading industries of the U.S. economy. The NASDAQ Composite Index is a market-value weighted index of all common stocks listed on the Nasdaq stock exchange. The Russell 2000 is a market-cap weighted index composed of 2,000 U.S. small-cap common stocks. The Global Dow is an equally weighted index of 150 widely traded blue-chip common stocks worldwide. The U.S. Dollar Index is a geometrically weighted index of the value of the U.S. dollar relative to six foreign currencies. Market indexes listed are unmanaged and are not available for direct investment.
Important Disclosures
Spire Wealth Management, LLC is a Federally Registered Investment Advisory Firm. Securities offered through an affiliated company, Spire Securities, LLC., a Registered Broker/Dealer and member FINRA/SIPC.
Neither Spire Wealth Management nor Corbett Road Wealth Management provide tax or legal advice. The information presented here is not specific to any individual’s personal circumstances. Please speak with your tax or legal professional.
These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.
Prepared by Broadridge Advisor Solutions. ©2025 Broadridge Financial Services, Inc.
Key Dates/Data Releases
6/17: Retail sales, import and export prices, industrial production
6/18: Housing starts, FOMC meeting statement
The Markets (as of market close June 13, 2025)
Unrest in the Middle East dragged stock values lower last week, while pushing gold and crude oil prices higher. For much of the week, investors focused on trade talks between the U.S. and China, which ultimately did not result in a significant breakthrough in trade relations and left tariffs at relatively elevated levels. However, favorable inflation data for May offered some encouragement for investors as stocks moved higher last Thursday. Nevertheless, escalating tensions in the Middle East resulted in a sharp drop in stocks last Friday, while crude oil prices jumped over 13% last week. Gold rose more than 3.5%, with prices nearing an April record high as investors sought safety amid rising geopolitical tensions. Among the market sectors, energy and health care outperformed, while financials, industrials, and consumer staples declined.
Stock Market Indexes
Chart reflects price changes, not total return. Because it does not include dividends or splits, it should not be used to benchmark performance of specific investments.
Last Week’s Economic News
- Consumer prices ticked up 0.1% in May, according to the latest Consumer Price Index (CPI). Prices for shelter rose 0.3% in May and were the largest contributor to the overall monthly increase. Food prices increased 0.3%, while energy prices fell 1.0% in May as prices for gasoline declined. Consumer prices less food and energy rose 0.1% in May, following a 0.2% increase in April. Over the last 12 months, the CPI increased 2.4%. Inflationary pressures have remained somewhat muted, despite President Trump’s sweeping tariffs, although some economists expect price pressures to heat up over the second half of the year. Also of note, CPI data will come under closer scrutiny moving forward as the Bureau of Labor Statistics announced the suspension of data collection in three cities due to waning resources.
- Wholesale prices rose 0.1% in May after declining 0.2% in April, according to the latest Producer Price Index (PPI). Since May 2024, the PPI has risen 2.6%. Prices for services advanced 0.1% in May, while prices for goods rose 0.2%. Prices less foods, energy, and trade services edged up 0.1% in May and 2.7% over the last 12 months.
- The monthly federal deficit was $316 billion in May following April’s $258 billion surplus. In May, total receipts were $371 billion, while total outlays were $687 billion. For fiscal year 2025, the deficit sits at $1,365 billion, compared to $1,202 billion over the same period in the prior fiscal year. In FY25, total receipts equaled $3,482 billion, while total outlays were $4,846 billion.
- The national average retail price for regular gasoline was $3.108 per gallon on June 9, $0.019 per gallon below the prior week’s price and $0.321 per gallon less than a year ago. Also, as of June 9, the East Coast price decreased $0.027 to $2.949 per gallon; the Midwest price ticked down $0.001 to $2.966 per gallon; the Gulf Coast price increased $0.014 to $2.716 per gallon; the Rocky Mountain price fell $0.055 to $3.085 per gallon; and the West Coast price declined $0.053 to $4.154 per gallon.
- For the week ended June 7, there were 248,000 new claims for unemployment insurance, unchanged from the previous week’s level, which was revised up by 1,000. According to the Department of Labor, the advance rate for insured unemployment claims for the week ended May 31 was 1.3%, an increase of 0.1 percentage point from the previous week’s rate. The advance number of those receiving unemployment insurance benefits during the week ended May 31 was 1,956,000, an increase of 54,000 from the previous week’s level, which was revised down by 2,000. This is the highest level for insured unemployment since November 13, 2021, when it was 1,970,000. States and territories with the highest insured unemployment rates for the week ended May 24 were New Jersey (2.2%), Washington (2.1%), California (2.0%), Rhode Island (2.0%), Massachusetts (1.9%), the District of Columbia (1.8%), Illinois (1.6%), Nevada (1.6%), New York (1.6%), Oregon (1.6%), and Puerto Rico (1.6%). The largest increases in initial claims for unemployment insurance for the week ended May 31 were in Kentucky (+3,967), Minnesota (+2,364), Tennessee (+1,764), Ohio (+1,271), and North Dakota (+593), while the largest decreases were in Michigan (-3,783), Massachusetts (-1,585), Florida (-1,456), Iowa (-1,074), and Nebraska (-1,065).
Eye on the Week Ahead
The Federal Open Market Committee meets this week. A few months ago, the consensus was that the Fed would decrease interest rates following their June meeting. However, recent economic indicators relied upon by the Committee tend to point to maintaining the current federal funds rate range.
Data sources: Economic: Based on data from U.S. Bureau of Labor Statistics (unemployment, inflation); U.S. Department of Commerce (GDP, corporate profits, retail sales, housing); S&P/Case-Shiller 20-City Composite Index (home prices); Institute for Supply Management (manufacturing/services). Performance: Based on data reported in WSJ Market Data Center (indexes); U.S. Treasury (Treasury yields); U.S. Energy Information Administration/Bloomberg.com Market Data (oil spot price, WTI, Cushing, OK); www.goldprice.org (spot gold/silver); Oanda/FX Street (currency exchange rates).
News items are based on reports from multiple commonly available international news sources (i.e., wire services) and are independently verified when necessary with secondary sources such as government agencies, corporate press releases, or trade organizations. All information is based on sources deemed reliable, but no warranty or guarantee is made as to its accuracy or completeness. Neither the information nor any opinion expressed herein constitutes a solicitation for the purchase or sale of any securities, and should not be relied on as financial advice. Forecasts are based on current conditions, subject to change, and may not come to pass. U.S. Treasury securities are guaranteed by the federal government as to the timely payment of principal and interest. The principal value of Treasury securities and other bonds fluctuates with market conditions. Bonds are subject to inflation, interest-rate, and credit risks. As interest rates rise, bond prices typically fall. A bond sold or redeemed prior to maturity may be subject to loss. Past performance is no guarantee of future results. All investing involves risk, including the potential loss of principal, and there can be no guarantee that any investing strategy will be successful.
The Dow Jones Industrial Average (DJIA) is a price-weighted index composed of 30 widely traded blue-chip U.S. common stocks. The S&P 500 is a market-cap weighted index composed of the common stocks of 500 largest, publicly traded companies in leading industries of the U.S. economy. The NASDAQ Composite Index is a market-value weighted index of all common stocks listed on the Nasdaq stock exchange. The Russell 2000 is a market-cap weighted index composed of 2,000 U.S. small-cap common stocks. The Global Dow is an equally weighted index of 150 widely traded blue-chip common stocks worldwide. The U.S. Dollar Index is a geometrically weighted index of the value of the U.S. dollar relative to six foreign currencies. Market indexes listed are unmanaged and are not available for direct investment.
IMPORTANT DISCLOSURES
Spire Wealth Management, LLC is a Federally Registered Investment Advisory Firm. Securities offered through an affiliated company, Spire Securities, LLC., a Registered Broker/Dealer and member FINRA/SIPC.
Neither Spire Wealth Management nor Corbett Road Wealth Management provide tax or legal advice. The information presented here is not specific to any individual’s personal circumstances. Please speak with your tax or legal professional.
These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.
Prepared by Broadridge Advisor Solutions. ©2025 Broadridge Financial Services, Inc
Calculators
Link Disclosure: The information being provided is strictly as a courtesy. When you click on any of the links provided here, you are leaving this website and viewing information provided by a third party. We make no representation as to the completeness or accuracy of information provided by any third-party website. Nor is the company liable for any direct or indirect technical or system issues or any consequences arising out of your access to or your use of third-party technologies, websites, information, and programs made available through this website. By accessing these calculators, you assume total responsibility and risk for your use of the third-party website.
Auto
Cash Flow
College
Credit
FINRA Calculators
Home & Mortgage
Insurance
Paycheck & Benefits
Retirement
Savings
Taxation
About Corbett Road
Useful Links
Contact Us
Toll Free: 844.688.4955
E-mail: info@corbettroad.com
7901 Jones Branch Drive Suite 800 McLean, VA 22102
7901 Jones Branch Drive Suite 800 McLean, VA 22102
All third-party trademarks and service marks on the Corbett Road Wealth Management website (www.corbettroad.com) are the property of their respective owners, and the use of these names, trademarks and brands does not imply endorsement.
Spire Wealth Management, LLC is a Federally Registered Investment Advisory firm. Securities offered through an affiliate, Spire Securities, LLC. Member FINRA/SIPC | DISCLAIMERS.
©Copyright 2024 Corbett Road Wealth Management. All rights reserved. FINRA Broker Check Spire Investment Partners