Markets in a Minute - Don't Stay Away in May

Insights | Markets in a Minute - Don't Stay Away in May

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)

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