Author: Zac Martin, Investment Associate
Week Ending May 31st – Don’t Stay Away in May
- Consumer Confidence for May positively surprised analyst expectations, this increase was a result of improving future business conditions and improving access to jobs.
- The Second Estimate for Q1 GDP missed estimates by 0.3%, shrinking to 1.3%. GDP growth was led by increases in consumer spending, residential & nonresidential fixed investment and Government Spending. This was partially offset by a decrease of inventories.
- Advanced Wholesale Inventories for April accelerated by 0.2% but were down 1.9% from April 2023. Durable Goods and Motor Vehicles were the strongest increase with an increase of 0.6% & 1.5% since March.
- Personal Consumption Expenditure for April was inline with analyst expectations, increasing year-over-year by 2.7%.
The week ahead:
- JOLTS (6/4)
- ISM Services PMI, PMI Composite (6/5)
- Nonfarm Payrolls & Unemployment Rate (6/7)
- Corporate: Cisco Systems Investor Day (6/4), PACCAR Investor Meeting & Lululemon Earnings (6/5)
HORAN Capital Advisors, LLC is an SEC registered investment advisor. The information herein has been obtained from sources believed to be reliable but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results. Market conditions can vary widely over time and there is always the potential of losing money when investing in securities. HCA and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only and is not intended to provide and should not be relied on for tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.