Weekly Market Update

Weekly Market Update

As we head into the final weeks of June, the market remains buoyant despite some volatility in recent days. The S&P 500 (^GSPC) is now roughly 2% from reaching a fresh all-time high, and stocks have been trending higher on optimism over potential trade deals between the US and China.

Key Takeaways
• The May jobs report showed the US labor market added 139,000 jobs in the month, while the unemployment rate held flat at 4.2%.
• Renewed US-China trade talks are ongoing, with markets hoping for clarity and a reduction in tensions.
• Easing inflation pressures have increased bets on interest rate cuts from the Federal Reserve, with odds of a September cut now at 57.2% (CME FedWatch tool).
• The May Consumer Price Index (CPI) report showed a cooler-than-expected reading, with consumer inflation up 0.1% month over month.
• Tariffs and trade agreements remain in sharp focus this week, with President Trump's tariff threats continuing to impact markets.

Corporate News
• Apple's (AAPL) Worldwide Developers Conference was held last week, with the company announcing a sweeping revamp of its iOS operating system.
• Earnings from GameStop (GME), Oracle (ORCL), and Adobe (ADBE) highlight a sparse week of planned quarterly releases.
• Palantir (PLTR) is the year's biggest winner in the S&P 500, rising 80% on AI and defense momentum.

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