Your Capital Markets Snapshot: Equity Markets Reach Record Levels

Despite some mixed economic news this week, the equity markets continued to reach record levels. The Nasdaq and S&P 500 both closed at all-time highs on Friday, after ending February with their best monthly return in nine years. The economic data early in the week came in as expected with the Price Consumption Expenditures (PCE) Index for January showing a gain of 0.3%. However, Friday’s releases of the ISM Manufacturing Index and the University of Michigan Consumer Sentiment Survey both came in below expectations.