Markets Update
US stocks eked out a small gain last week after trading lower for 4 straight weeks, with 2-3% daily selloffs feeling like the norm. The S&P 500 seems to be stabilizing a bit after the move lower that started that 3rd week of February. The daily headline ping-pong around Trump’s tariffs appear to be slowing down, it feels like they are very consciously rolling out messages in a less chaotic fashion after the stock market went straight down for the better part of 3 weeks during peak headline-volatility. Chairman of the Fed, Jerome Powell, spoke to the press last Wednesday and takeaways helped with more positive sentiment. Rates were left on hold, and Powell’s commentary appeared upbeat, suggesting inflationary impacts from future tariffs could be transitory and not long-lasting.
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