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#Major markets had a mixed week. Nasdaq and S&P 500 rose, while Dow Jones and MSCI indices fell. Only three out of 11 sectors closed higher, led by Information Technology. S&P 500 traded within a substantial range, hitting a low near 4100 midweek and reaching a high near 4200. The mixed performance reflected tension around Debt Ceiling talks. President Biden and House Speaker McCarthy worked on a deal to extend the debt ceiling until January 2025, potentially pushing political discussions past the 2024 election. Fed Presidents discussed a possible rate hike in June, and the April Consumer Spending report exceeded expectations, increasing the likelihood of a 25-basis point increase at the June meeting according to the CME Group.

Last week, major markets closed higher, with the Nasdaq gaining over 3% and the S&P 500 exceeding the 4200 level for the first time this year. However, the bond market experienced a decline due to rising interest rates. Fed officials expressed differing views on rate increases, but Fed Chairman Powell suggested that the policy rate may not need to rise as much as expected. Moving forward, the markets will need to navigate interest rates, the banking sector, and ongoing negotiations surrounding the Debt Ceiling in Washington, D.C.

The Major Markets had a mixed performance due to a combination of earnings, economic calendars, and banking news causing market volatility. Frist Republic Bank's failure and subsequent sale of assets to JP Morgan Chase added pressure on the S&P Regional Bank Index, resulting in significant swings and reaching a new low. The May FOMC Meeting attracted attention as analysts speculated on the committee's response to the bank failure, and the FOMC ended up increasing the Fed Funds Rate as expected. While the regional bank index experienced a significant decline, the overall financial sector only saw a moderate decrease, indicating varying risks among banks. The Energy sector suffered the most significant losses, with falling crude oil prices and declining natural gas prices. The S&P 500 experienced continuous losses throughout the week until Friday, when the BLS Employment Report exceeded expectations with strong job growth and a decrease in the unemployment rate. Contact us to see how we can help you. www.leapwealth.com

The major markets had a mixed performance last week due to a combination of factors, including bank failures, economic data, and earnings reports. Frist Republic Bank became the second-largest US bank to fail, and its assets were quickly sold to JP Morgan Chase. This resulted in pressure on the S&P Regional Bank Index, which experienced its greatest volatility since March. The May FOMC Meeting resulted in an additional 25 basis point increase to the Fed Funds Rate, taking the Target Range to 5.00 – 5.25%, while the overall financial sector only declined 2.65%. The energy sector continued to decline due to economic growth concerns, with crude oil prices falling from $80 a barrel to around $68, and natural gas dropping over 11% last week. However, Friday's release of the BLS Employment Report beat expectations, with the unemployment rate falling to a 54-year low of 3.4%. Contact us to see how we can help you. www.leapwealth.com

Last week, most major markets closed higher, with positive earnings reports from technology companies. First Republic Bank reported a massive decline in deposits, causing concerns, but JPM Morgan eventually purchased the bank. The S&P 500 had a large loss on Tuesday but rebounded with optimism from the technology sector. First-quarter GDP was weaker than expected, but the market saw it as an indication that the Fed's efforts to rein in inflation were working. Stocks closed higher on Friday, and this week holds the May FOMC Meeting, with the market pricing in the greatest likelihood of the Fed Funds rate at the 5.00 – 5.25% range. Contact us today to learn more about how we can help you www.leapwealth.com

The major markets closed slightly lower, except for the MSCI Emerging Markets Index. Market analysts are waiting for the quarterly earnings releases over the next few weeks. The S&P 500 traded in a narrow range last week, and volatility was low. The debt ceiling is becoming an exciting topic, as the US Treasury's General Account Balance was unusually low, potentially limiting the time for Washington to negotiate the debt ceiling before the next government shutdown. Treasuries were unphased, and the yield curve remained unchanged. Contact us to see how we can help you. www.leapwealth.com