PCE Inflation Jolts Higher06/01/2021

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May 24 - 28, 2021 Recap

Benchmark Equities Rebound
The broad market S&P 500 posted robust gains last week, rebounding from two weekly losses and closed out the month just 0.8% below its 4,232 most recent record high. Investors’ equity risk-on appetites were largely driven by mostly solid economic data that signal a sustained business recovery, outweighing renewed inflation worries. Investors increasingly conclude that accelerating inflation is largely transitory and won’t prompt changes in Federal Reserve policy anytime soon.

For the Week...
The S&P 500 rallied 1.20% last week, the Dow Industrials rose 0.94% and the tech-heavy Nasdaq Composite advanced a second week, rising 2.08%.

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The Weekly Recap is published by Cetera Investment Management LLC, an SEC registered adviser owned by Cetera Financial Group. Cetera Investment Management provides market perspectives, portfolio guidance, model management, and other investment advice to its affiliated broker-dealers, dually registered broker-dealers and registered investment advisers.

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