Market Updates
Key Dates/Data Releases
6/2: S&P Global Manufacturing PMI
6/3: JOLTS
6/4: S&P Global Services PMI
6/5: International trade in goods and services
6/6: Employment Situation
The Markets (as of market close May 2, 2025)
Despite a dip at the end of the week, stocks closed last week higher as investors digested renewed trade tensions with China, while inflation showed signs of cooling. Each of the benchmark indexes ended the week higher, riding solid gains in tech shares. All of the market sectors closed the week with gains, with notable advances in information technology, consumer discretionary, real estate, and financials. Long-term bond yields declined. Crude oil prices fell for the second week in a row. The dollar continued to slip lower, while gold prices fell as traders moved from safety to risk.
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
- Gross domestic product (GDP) decreased at an annual rate of 0.2% in the first quarter of 2025, according to the second estimate released by the U.S. Bureau of Economic Analysis. In the fourth quarter of 2024, GDP increased 2.4%. Compared to the fourth quarter, the downturn in GDP in the first quarter primarily reflected an increase in imports, which are a subtraction in the calculation of GDP, a deceleration in consumer spending, and a downturn in government spending that were partly offset by increases in investment and exports. Personal consumption expenditures (PCE), a major component in the calculation of GDP, rose 1.2% in the first quarter, compared to an increase of 4.0% in the fourth quarter. In the first quarter, consumer spending on goods ticked up 0.1% (6.2% in the fourth quarter), while spending on services rose 1.7% (3.0% in the fourth quarter).
- According to the latest report from the Bureau of Economic Analysis, both personal income and disposable (after-tax) personal income increased 0.8% in April. Personal consumption expenditures, a measure of consumer spending, increased 0.2%. From the preceding month, the PCE price index for April increased 0.1%. Excluding food and energy, the PCE price index also increased 0.1%. From April 2024, the PCE price index increased 2.1%, while the PCE price index excluding food and energy increased 2.5%.
- New orders for durable goods, which had increased for four straight months, fell 6.3% in April. Transportation equipment, which declined 17.1%, drove the overall decrease in durable goods orders. Within transportation equipment, commercial aircraft bookings fell 51.5%. Business equipment orders fell 1.3% in April, the largest drop since October 2024. Durable goods orders rose 4.2% since April 2024.
- The international trade in goods deficit was $87.6 billion in April, down $74.6 billion, or 46.0%, from the March estimate. Exports of goods for April were $6.3 billion, or 3.4%, more than March exports. Imports of goods for April were $68.4 billion, or 19.8%, less than March imports.
- The national average retail price for regular gasoline was $3.160 per gallon on May 26, $0.013 per gallon below the prior week’s price and $0.417 per gallon less than a year ago. Also, as of May 26, the East Coast price increased $0.005 to $2.995 per gallon; the Midwest price fell $0.009 to $3.018 per gallon; the Gulf Coast price decreased $0.060 to $2.726 per gallon; the Rocky Mountain price dipped $0.013 to $3.118 per gallon; and the West Coast price declined $0.029 to $4.258 per gallon.
- For the week ended May 24, there were 240,000 new claims for unemployment insurance, an increase of 14,000 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 May 17 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 17 was 1,919,000, an increase of 26,000 from the previous week’s level, which was revised down by 10,000. 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 10 were New Jersey (2.2%), California (2.1%), Washington (2.1%), Rhode Island (1.9%), District of Columbia (1.8%), Massachusetts (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 17 were in Illinois (+1,162), Missouri (+447), Louisiana (+383), Connecticut (+246), and New York (+234), while the largest decreases were in Virginia (-1,277), Michigan (-1,192), California (-686), Florida (-547), and Massachusetts (-399).
Eye on the Week Ahead
The jobs report for May is out this week. April saw employment increase by 177,000, while average hourly earnings rose 0.2% for the month.
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
5/27: Durable goods orders
5/29: GDP
5/30: Personal Income and Outlays, international trade in goods
The Markets (as of market close May 23, 2025)
Stocks tumbled last week as traders contemplated the potential impact of new legislation and increased trade tensions following President Trump’s threat of new tariffs against the European Union and Apple. While stocks declined, long-term bond yields rose, with 10-year Treasuries reaching a three-month high of 4.64% last Thursday before settling at 4.51% by the end of the week. Crude oil prices recorded their first weekly loss in May, affected by expectations of another production increase by OPEC+. New tariffs also impacted the dollar index, which fell to its lowest level in two weeks. With investors moving away from risk, gold prices climbed higher.
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 slid 0.5% in April for the second straight month and retreated 2.0% from one year ago. The median existing-home sales price rose 1.8% from April 2024 to $414,000, an all-time high for the month of April and the 22nd consecutive month of year-over-year price increases. The inventory of unsold existing homes represented a 4.4-months supply at the current monthly sales pace, up from 4.0 months in March. Sales of existing single-family homes fell 0.3% in April and declined 1.4% over the last 12 months. The median existing single-family sales price was $418,000, 1.7% above the price in April 2024 ($411,100). Inventory of existing single-family homes for sale rose from 3.8 months in March to 4.2 months in April.
- Sales of new single-family houses in April were 10.9% above the March rate and 3.3% higher than the April 2024 rate. Inventory of new single-family houses for sale represented a supply of 8.1 months at the current sales rate. The April supply was below the March estimate of 9.1 months but above the April 2024 estimate of 7.7 months. The median sales price of new houses sold in April 2025 was $407,200. This is 0.8% above the March price of $403,700 but 2.0% below the April 2024 price of $415,300. The average sales price of new houses sold in April was $518,400, which was 3.7% higher than the March price of $499,700 and was 3.6% above the April 2024 price of $500,600.
- The national average retail price for regular gasoline was $3.173 per gallon on May 19, $0.053 per gallon above the prior week’s price but $0.411 per gallon less than a year ago. Also, as of May 19, the East Coast price increased $0.043 to $2.990 per gallon; the Midwest price rose $0.049 to $3.027 per gallon; the Gulf Coast price advanced $0.094 to $2.786 per gallon; the Rocky Mountain price dipped $0.006 to $3.131 per gallon; and the West Coast price rose $0.063 to $4.287 per gallon.
- For the week ended May 17, there were 227,000 new claims for unemployment insurance, a decrease of 2,000 from the previous week’s level. According to the Department of Labor, the advance rate for insured unemployment claims for the week ended May 10 was 1.2%, unchanged from the previous week’s rate. The advance number of those receiving unemployment insurance benefits during the week ended May 10 was 1,903,000, an increase of 36,000 from the previous week’s level, which was revised down by 14,000. States and territories with the highest insured unemployment rates for the week ended May 3 were New Jersey (2.3%), California (2.2%), Washington (2.1%), Rhode Island (1.9%), the District of Columbia (1.8%), Illinois (1.7%), 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 10 were in Massachusetts (+3,410), Virginia (+1,272), Pennsylvania (+595), Illinois (+442), and Nebraska (+395), while the largest decreases were in Michigan (-5,827), California (-1,861), Ohio (-868), New York (-859), and New Hampshire (-475).
Eye on the Week Ahead
The second estimate of first-quarter gross domestic product is available this week. The initial estimate showed the economy contracted 0.3%. Also out this week is the Personal Income and Outlays report for April. Consumer spending rose 0.7% in March, while consumer prices were unchanged from the prior month.
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
5/22: Existing home sales
5/23: New home sales
As of Market Close May 16, 2025
Wall Street enjoyed one of its best weeks in quite some time as stocks moved higher by the close of trading last Friday. Each of the benchmark indexes posted solid weekly gains on the heels of easing U.S.-China trade tensions. The 90-day tariff truce helped drive the S&P 500 back into positive territory for the year. Most of the market sectors experienced growth, with the exception of health care. Consumer discretionary and information technology led the advance, each climbing more than 7.0%. Weaker-than-expected economic reports (see below) chilled investor enthusiasm somewhat, despite the favorable tariff news. Crude oil prices moved higher for the second consecutive week. While easing global tensions helped stocks, gold prices slipped lower. After reaching a three-month high of 4.55% last Thursday, yields on 10-year bonds dipped by the end of the week. Nevertheless, yields closed the week more than 20 basis points higher than their values at the start of May.
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 0.2% in April after falling 0.1% in the previous month, according to the latest Consumer Price Index. Over the last 12 months, consumer prices have risen 2.3% following a 2.4% increase for the 12 months ended in March. The April change was the smallest 12-month increase in the CPI since February 2021. The all items less food and energy index rose 2.8% over the last 12 months. More than half of the April price increase was attributable to a 0.3% rise in shelter prices. Prices for energy also rose 0.7% last month. Food prices, in contrast, fell 0.1% in April. Consumer prices less food and energy rose 0.2% in April following a 0.1% increase in March.
- Prices received by producers of goods, services, and construction (generally, wholesale prices) decreased 0.5% in April, which was largely attributable to a 0.7% drop in prices for services. This was the largest decline in prices for services since December 2009. Prices received for goods were unchanged from the prior month. Since April 2024, producer prices have risen 2.4%. Prices less foods, energy, and trade services edged down 0.1% in April, the first decline since April 2020. For the 12 months ended April 2025, prices less foods, energy, and trade services advanced 2.9%.
- According to the latest report from the Census Bureau, retail and food services sales ticked up 0.1% in April from the previous month and rose 5.2% from April 2024. Retail trade sales were down 0.1% from March but were up 4.7% from last year. Sales for motor vehicle and parts dealers were up 9.4% from last year, while food service and drinking places sales rose 7.8% over the last 12 months.
- Total industrial production was unchanged in April, according to the latest information from the Federal Reserve. Manufacturing declined 0.4% and mining fell 0.3%. These decreases were offset by a 3.3% increase in utilities. Over the 12 months ended in April, total industrial production rose 1.5%, manufacturing increased 1.2%, mining inched up 0.7%, and utilities advanced 4.3%.
- Import prices increased 0.1% in April following a 0.4% decrease in March. Higher prices for nonfuel imports more than offset lower prices for fuel imports in April. Prices for nonfuel imports increased 0.4% in April following a decrease of 0.1% in March. Import prices rose 0.1% from April 2024 to April 2025. Prices for exports advanced 0.1% in April for the second consecutive month. Prices for exports have not declined on a one-month basis since September 2024. Export prices advanced 2.0% from April 2024 to April 2025.
- The federal government had a $258 billion surplus in April, of which $537 billion was attributable to income tax receipts. By comparison, the surplus in April 2024 was $210 billion. For fiscal year 2025, the deficit sits at $1,049 billion. Over the same period last fiscal year, the deficit was $855 billion.
- The number of residential building permits issued in April declined 4.7% from the previous month’s estimate. Residential building permits were also 3.2% below the year-earlier figure. Single-family permits in April were 5.1% below the revised March figure. Privately-owned housing starts in April were 1.6% above the March estimate but 1.7% below the April 2024 rate. Single-family housing starts in April were 2.1% below the revised March figure. Privately-owned housing completions in April were 5.9% below the revised March estimate and 12.3% below the April 2024 figure. Single-family housing completions in April were 8.0% below the revised March rate.
- The national average retail price for regular gasoline was $3.120 per gallon on May 12, $0.027 per gallon below the prior week’s price and $0.488 per gallon less than a year ago. Also, as of May 12, the East Coast price ticked down $0.051 to $2.947 per gallon; the Midwest price decreased $0.049 to $2.978 per gallon; the Gulf Coast price fell $0.030 to $2.692 per gallon; the Rocky Mountain price increased $0.019 to $3.137 per gallon; and the West Coast price rose $0.068 to $4.224 per gallon.
- For the week ended May 10, there were 229,000 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 3 was 1.2%, unchanged from the previous week’s rate. The advance number of those receiving unemployment insurance benefits during the week ended May 3 was 1,881,000, an increase of 9,000 from the previous week’s level, which was revised down by 7,000. States and territories with the highest insured unemployment rates for the week ended April 26 were New Jersey (2.4%), California (2.2%), Washington (2.1%), Rhode Island (2.0%), the District of Columbia (1.8%), Massachusetts (1.8%), Illinois (1.7%), New York (1.7%), Minnesota (1.6%), Nevada (1.6%), Oregon (1.6%), and Puerto Rico (1.6%). The largest increases in initial claims for unemployment insurance for the week ended May 3 were in Michigan (+6,869), California (+1,187), Maryland (+1,073), Texas (+930), and Florida (+584), while the largest decreases were in New York (-15,228), Massachusetts (-3,993), New Jersey (-3,243), South Carolina (-1,049), and Connecticut (-895).
Eye on the Week Ahead
The housing sector is front and center this week. The latest data on sales of new and existing homes is available for April. Sales of existing homes fell in March, while sales of new single-family homes rose. Higher mortgage lending rates have kept some potential homebuyers away over the past several months.
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
5/13: Consumer Price Index
5/15: Producer Index, retail sales, industrial production
5/16: Housing starts, import and export prices
As of Market Close May 9, 2025
Stocks closed mostly lower last week as investors looked ahead to trade negotiations between the United States and China over the weekend. Despite the announcement of a trade deal between the United States and the United Kingdom, investors remained unsure of the extent of that deal and, more particularly, whether any meaningful progress would be made with China. As has been the case over the last several weeks, the stock market was marked by volatility. Stocks began last week closing lower as President Trump threatened new tariffs, including a levy on foreign films. Crude oil prices dropped to their lowest level since the beginning of 2021 as OPEC+ agreed to increase production, raising fears of a global supply surplus. Wall Street saw a minimal reversal last Wednesday after the Federal Reserve decided to keep interest rates at their present level (see below). Thereafter, stocks moved up and down for the remainder of the week. Among the market sectors, consumer discretionary, industrials, and financials performed well, while health care, consumer staples, and communications services underperformed.
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
- As expected, the Federal Open Market Committee left the federal funds rate at its current range of 4.25%-4.50% following its meeting last week. While noting that economic activity has expanded at a solid pace and the unemployment rate has stabilized, the Committee warned that the risks of higher unemployment and higher inflation have risen. Furthermore, the FOMC statement indicated that uncertainty about the economic outlook has increased further. The Committee next meets in mid-June. Fed Chair Jerome Powell spoke after the meeting and ultimately suggested that the best course of action for the Committee is to wait for further clarity relative to the impact of the tariff policy on the economy and inflation.
- Growth in the services sector in April was the slowest in nearly a year and a half, according to the latest purchasing managers survey from S&P Global. Uncertainty over U.S. trade policies, especially regarding tariffs, was reported to have limited demand and weighed on business expectations, which slumped to the lowest level in two and a half years. Survey respondents indicated that tariffs have driven operating expenses higher through a rise in supplier charges, which caused service providers to increase their selling prices.
- According to the latest report from the Bureau of Economic Analysis, the goods and services deficit was $140.5 billion in March, an increase of 14.0% from the February estimate. Exports rose 0.2% to $278.5 billion, while imports advanced 4.4% to $419.0 billion. Year to date, the goods and services deficit increased $189.6 billion, or 92.6%, from the same period in 2024. Exports increased $41.1 billion, or 5.2%. Imports increased $230.7 billion, or 23.3%.
- The national average retail price for regular gasoline was $3.147 per gallon on May 5, $0.014 per gallon above the prior week’s price but $0.496 per gallon less than a year ago. Also, as of May 5, the East Coast price ticked up $0.011 to $2.998 per gallon; the Midwest price increased $0.035 to $3.027 per gallon; the Gulf Coast price rose $0.036 to $2.722 per gallon; the Rocky Mountain price decreased $0.016 to $3.118 per gallon; and the West Coast price declined $0.036 to $4.156 per gallon.
- For the week ended May 3, there were 228,000 new claims for unemployment insurance, a decrease of 13,000 from the previous week’s level. According to the Department of Labor, the advance rate for insured unemployment claims for the week ended April 26 was 1.2%, a decrease of 0.1 percentage point from the previous week’s rate. The advance number of those receiving unemployment insurance benefits during the week ended April 26 was 1,879,000, a decrease of 29,000 from the previous week’s level, which was revised down by 8,000. States and territories with the highest insured unemployment rates for the week ended April 19 were New Jersey (2.5%), Rhode Island (2.5%), California (2.3%), Washington (2.1%), District of Columbia (1.8%), Illinois (1.8%), Massachusetts (1.8%), New York (1.8%), Puerto Rico (1.8%), Minnesota (1.7%), and Nevada (1.7%). The largest increases in initial claims for unemployment insurance for the week ended April 26 were in New York (+15,418), Massachusetts (+3,301), Georgia (+1,207), Puerto Rico (+1,012), and Nebraska (+570), while the largest decreases were in Connecticut (-2,340), Rhode Island (-1,850), Missouri (-1,696), Michigan (-1,436), and Washington (-700).
Eye on the Week Ahead
Inflation data for April is available this week, with the releases of several important reports. Both the Consumer Price Index and the Producer Price Index are out this week. In March, the CPI fell 0.1%, while the PPI dropped 0.4%. It will be interesting to see if tariffs have any impact on those readings for April.
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
5/5: S&P Global Services PMI
5/6: International trade in goods and services
5/7: FOMC meeting statement
As of Market Close on May 2, 2025
Wall Street enjoyed another solid week of gains on the heels of some strong corporate earnings data, a better-than-expected jobs report, and more signs that the White House and China may be open to trade talks. By the close of trading last Friday, the Dow had posted 10 straight sessions of gains, while the S&P 500 enjoyed nine consecutive sessions. Investors have seen signs that the economy is resilient in the face of tariffs, despite the fact that the GDP contracted in the first quarter. Tech shares have played a large part in driving the market higher. Information technology rose about 6.0% last week to lead gains for nearly all of the market sectors, with the exception of energy, which was flat. Crude oil prices declined for the second straight week on fears of sluggish Chinese demand, rising U.S. production, and concerns that OPEC+ will boost supply. The dollar ticked higher for the second week in a row, while bond markets seemed to have responded to concerns that trade policies could still slow the economy, putting pressure on the Federal Reserve to cut interest rates.
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
- There were 177,000 new jobs added in April, according to the latest report from the Bureau of Labor Statistics. The average monthly gain over the 12 months ended in April was 152,000. The change in employment for February was revised down by 15,000, and the change for March was revised down by 43,000. With these revisions, employment in February and March combined was 58,000 lower than previously reported. In April, employment continued to trend up in health care, transportation and warehousing, financial activities, and social assistance. Federal government employment declined. The number of unemployed, at 7.2 million, rose by less than 100,000. The unemployment rate was unchanged at 4.2%. The labor force participation rate and the employment-population ratio each ticked up 0.1 percentage point to 62.6% and 60.0%, respectively. In April, the number of long-term unemployed (those jobless for 27 weeks or more) increased by 179,000 to 1.7 million. The long-term unemployed accounted for 23.5% of all unemployed people. In April, average hourly earnings rose by $0.06, or 0.2%, to $36.06. Over the past 12 months, average hourly earnings have increased by 3.8%. The average workweek was unchanged at 34.3 hours in April.
- The first, or advance, estimate of first-quarter gross domestic product showed economic growth declined 0.3%, the first negative quarter since the first quarter of 2022 and below the consensus of up 0.2%. The decline in GDP was largely attributable to a significant increase in imports, which are a negative in the calculation of GDP, likely due to the anticipation of higher tariffs increasing the cost of imports. Personal consumption expenditures rose 1.8% in the first quarter (4.0% in the fourth quarter), making a lower-than-usual 1.21% contribution to GDP. Government consumption expenditures and gross investment fell 1.4% in the first quarter, likely impacted by cuts in payrolls, services, and other expenditures.
- According to the latest Personal Income and Outlays report, personal consumption expenditures rose 0.7% in March following a 0.5% increase in February. Spending on goods rose 0.9%, while spending on services advanced 0.6%. Personal income increased 0.5% in March after increasing 0.7% in the prior month. Disposable (after-tax) personal income also increased 0.5% last month. The personal consumption expenditures price index, a measure of inflation, was unchanged in March. Excluding food and energy, prices also were flat last month. From March 2024, prices rose 2.3%, down from a 2.7% increase for the 12 months ended in February. Prices less food and energy rose 2.6% over the last 12 months, a decrease from the February estimate of 3.0%.
- The number of job openings in March, at 7.2 million, fell by about 280,000 from the February total and was 901,000 under the March 2024 total. In March, the number of hires, at 5.4 million and the number of total separations, at 5.1 million, were little changed from a month earlier. Within separations, the number of layoffs and discharges in March edged down 222,000 to 1.6 million.
- The manufacturing sector expanded marginally in April, according to the latest purchasing managers survey from S&P Global. The S&P Global US Manufacturing Purchasing Managers’ Index™ (PMI®) was 50.2 last month, unchanged since March. A minimal increase in new orders was supported by domestic demand, although tariffs resulted in heightened uncertainty and a noticeable drop in new export sales. Confidence in future growth fell to its lowest level since last June, while job losses were recorded for the first time in six months.
- The international trade in goods deficit was $162.0 billion in March, up $14.1 billion from February. Exports of goods were $180.8 billion, $2.2 billion more than February exports. Imports of goods for March were $342.7 billion, $16.3 billion more than February imports. Since March 2024, the goods deficit rose by $69.2 billion.
- The national average retail price for regular gasoline was $3.133 per gallon on April 28, $0.008 per gallon below the prior week’s price and $0.520 per gallon less than a year ago. Also, as of April 28, the East Coast price ticked up $0.004 to $2.987 per gallon; the Midwest price decreased $0.020 to $2.992 per gallon; the Gulf Coast price rose $0.002 to $2.686 per gallon; the Rocky Mountain price increased $0.004 to $3.134 per gallon; and the West Coast price declined $0.028 to $4.192 per gallon.
- For the week ended April 26, there were 241,000 new claims for unemployment insurance, an increase of 18,000 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 April 19 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 April 19 was 1,916,000, an increase of 83,000 from the previous week’s level, which was revised down by 8,000. 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 April 12 were New Jersey (2.4%), California (2.2%), Rhode Island (2.2%), Washington (2.2%), Illinois (1.9%), Massachusetts (1.9%), Minnesota (1.9%), the District of Columbia (1.8%), New York (1.7%), and Oregon (1.7%). The largest increases in initial claims for unemployment insurance for the week ended April 19 were in New Jersey (+2,875), Connecticut (+2,231), Rhode Island (+1,868), Maryland (+452), and Arizona (+450), while the largest decreases were in Kentucky (-4,613), Texas (-1,896), Oklahoma (-1,336), California (-1,226), and Virginia (-886).
Eye on the Week Ahead
The Federal Open Market Committee meets this week. It is not likely that a rate cut will result from the May meeting, although the consensus is that interest rates will be reduced at least two times before the end of the year.
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
4/29: JOLTS, international trade in goods
4/30: GDP, Personal Income and Outlays
5/01: S&P Global Manufacturing PMI
5/02: Employment situation
The Markets (as of market close April 25, 2025)
Wall Street enjoyed a solid week of gains as investors were encouraged by signs of progress in the U.S.-China trade dispute. Each of the benchmark indexes listed here moved higher, driven by gains in AI megacaps and some blue-chip stocks. First-quarter earnings season is in full swing. Of the 180 S&P 500 companies reporting so far, 73% beat expectations. Ten of the 11 market sectors posted weekly advances, with the exception of consumer staple companies, which dipped about 0.73%. Last week didn’t begin on a favorable note, as stocks closed sharply lower on Monday after President Trump continued his criticism of Federal Reserve Chair Jerome Powell. The dollar index fell to 98.2 on Monday, the lowest rate since February 2022. However, as trade tensions eased, stocks posted gains over the next four days. Long-term bond yields fell for the second straight week. Persistent oversupply concerns and uncertainty over the U.S.-China trade talks pulled crude oil prices 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
- New orders for durable goods rose for the third straight month in March after increasing 9.2%. Excluding transportation, new orders were virtually unchanged. Excluding defense, new orders increased 10.4%. Transportation equipment, also up three consecutive months, led the overall increase in new orders after climbing 27.0%.
- Sales of new single-family houses in March were 7.4% above the February rate and 6.0% above the March 2024 pace. The estimate of new houses for sale at the end of March was 0.6% above the February estimate and 7.9% above the March 2024 rate. This represents an inventory of 8.3 months at the current sales pace. The March inventory estimate was 6.7% below the February figure but 1.2% above the March 2024 estimate. The median sales price of new houses sold in March was $403,600. This was 1.9% below the February price of $411,500 and 7.5% below the March 2024 price of $436,400. The average sales price of new houses sold in March 2025 was $497,700. This was 1.0% above the February 2025 price of $492,700 but 4.7% below the March 2024 price of $522,500.
- Existing-home sales fell 5.9% in March and 2.4% from a year ago. Inventory of unsold homes represented a supply of 4.0 months at the current sales pace. The median existing-home price in March was $403,700, up 2.7% from a year ago. Sales of existing single-family homes also tumbled in March, dropping 6.4%. The median existing single-family home price was $408,000 in March, up 2.9% from March 2024.
- The national average retail price for regular gasoline was $3.141 per gallon on April 21, $0.027 per gallon below the prior week’s price and $0.527 per gallon less than a year ago. Also, as of April 21, the East Coast price ticked down $0.033 to $2.983 per gallon; the Midwest price increased $0.004 to $3.012 per gallon; the Gulf Coast price fell $0.063 to $2.684 per gallon; the Rocky Mountain price increased $0.032 to $3.130 per gallon; and the West Coast price declined $0.047 to $4.220 per gallon.
- For the week ended April 19, there were 222,000 new claims for unemployment insurance, an increase of 6,000 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 April 12 was 1.2%. The advance number of those receiving unemployment insurance benefits during the week ended April 12 was 1,841,000, a decrease of 37,000 from the previous week’s level, which was revised down by 7,000. States and territories with the highest insured unemployment rates for the week ended April 5 were New Jersey (2.5%), California (2.3%), Rhode Island (2.3%), Minnesota (2.2%), Washington (2.2%), Illinois (2.0%), Massachusetts (2.0%), the District of Columbia (1.9%), New York (1.8%), Oregon (1.7%), and Puerto Rico (1.7%). The largest increases in initial claims for unemployment insurance for the week ended April 12 were in Kentucky (+4,292), Missouri (+1,974), Pennsylvania (+1,858), Michigan (+1,012), and Connecticut (+955), while the largest decreases were in California (-3,296), Tennessee (-2,622), Oregon (-1,869), Illinois (-1,320), and Wisconsin (-1,313).
Eye on the Week Ahead
The last week of April brings with it the release of several potentially market-moving reports. The initial report on gross domestic product for the first quarter of 2025 is released. The economy expanded at an annualized rate of 2.4% in the fourth quarter of 2024. The March report on personal income and expenditures is out midweek. February saw personal income grow 0.8% and consumer spending rose 0.4%, while prices for goods and services climbed 0.3%. Finally, the April jobs report is available at the end of the week. Employment rose by 228,000 in March, while the unemployment rate ticked up to 4.2%.
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
4/23: New home sales
4/24: Durable goods orders, existing home sales
The Markets (as of market close April 17, 2025)
Stocks ended an abbreviated week of trading with mixed results as the U.S. markets closed a day early in observance of Good Friday. Throughout the week, investors weighed trade talks, interest rate uncertainty, and concerns of a global economic retreat. Big tech shares began the week on a positive note as investors hoped a temporary tariff exemption for electronics imports would remain in force. However, the optimism from earlier in the week proved short-lived as tech shares declined, pulled lower by some of the megacaps. By the close of trading, only the Russell 2000 and the Global Dow posted gains among the benchmark indexes listed here. Ten-year Treasury yields slipped lower as three straight days of declines more than offset last Thursday’s gains. Crude oil prices rose nearly 5.0% as sanctions targeting Iran’s oil exports stoked fears of increasing global supply constraints.
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
- U.S. import prices decreased 0.1% in March following a 0.2% increase in February. The decline in March import prices was the first since September 2024 and was largely attributable to a 2.3% decrease in import fuel prices. Since March 2024, import prices increased 0.9%. Export prices were unchanged in March after rising 0.5% in the previous month. U.S. export prices have not declined on a one-month basis since September 2024. Export prices advanced 2.4% from March 2024 to March 2025.
- Retail sales rose 1.4% in March after advancing 0.2% in February. From March 2024, retail sales increased 4.6%. Retail trade sales also increased 1.4% from February 2025, and 4.6% from last year. Motor vehicle and parts dealers sales were up 8.8% from last year, while nonstore (online) retail sales were up 4.8% from March 2024.
- According to the Federal Reserve’s report, industrial production decreased 0.3% in March but rose at an annual rate of 5.5% in the first quarter of 2025. The March decline in industrial production was driven by a 5.8% drop in utilities, as temperatures were warmer than is typical for the month. On the other hand, manufacturing rose 0.3% and mining advanced 0.6% last month. Overall, total industrial production in March was 1.3% above its year-earlier level.
- The number of issued residential building permits rose 1.6% in March but was 0.2% below the March 2024 rate. Single-family building permits in March were 2.0% below the February estimate. Residential housing starts in March were 11.4% below the prior month’s total but were 1.9% higher than the estimate from a year ago. Single-family housing starts in March were 14.2% under the February figure. Residential housing completions in March were 2.1% below the February estimate but 3.9% above the March 2024 figure. Completions of single-family houses in March were 0.9% higher than the February total.
- The national average retail price for regular gasoline was $3.168 per gallon on April 14, $0.075 per gallon below the prior week’s price and $0.460 per gallon less than a year ago. Also, as of April 14, the East Coast price ticked down $0.063 to $3.016 per gallon; the Midwest price decreased $0.095 to $3.008 per gallon; the Gulf Coast price fell $0.094 to $2.747 per gallon; the Rocky Mountain price decreased $0.067 to $3.098 per gallon; and the West Coast price declined $0.053 to $4.267 per gallon.
- For the week ended April 12, there were 215,000 new claims for unemployment insurance, a decrease of 9,000 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 April 5 was 1.2%. The advance number of those receiving unemployment insurance benefits during the week ended April 5 was 1,885,000, an increase of 41,000 from the previous week’s level, which was revised down by 6,000. States and territories with the highest insured unemployment rates for the week ended March 29 were New Jersey (2.6%), Rhode Island (2.5%), California (2.3%), Massachusetts (2.2%), Minnesota (2.2%), Washington (2.2%), Illinois (2.0%), the District of Columbia (1.9%), New York (1.8%), and Oregon (1.8%). The largest increases in initial claims for unemployment insurance for the week ended April 5 were in California (+5,410), Tennessee (+2,665), Oregon (+1,331), Virginia (+1,139), and Florida (+1,105), while the largest decreases were in Kentucky (-2,955), Iowa (-1,254), New York (-1,085), Kansas (-145), and Arkansas (-134).
Eye on the Week Ahead
Economic reports focus on the real estate sector this week. The March data on sales of both new and existing homes is available. February was a good month for sales of existing homes and new single-family homes. However, mortgage rates have remained elevated, which could impact sales during the spring season.
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.
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