Your Capital Markets Snapshot: Equity Markets Experienced Mixed Week

The equity markets had a mixed week to close out the first half of the year; however, on a year-to-date basis, all three major equity indices have shown impressive gains. Economic news last week showed inflation continues to trend lower as the core Personal Consumption Expenditure (PCE) Index for May was reported in line with expectations with an annual gain at 2.6%. This marked the lowest annual rate since 2021. In other economic news, U.S. personal income exceeded expectations with a gain of 0.5% but consumer spending came in slightly below forecasts. The University of Michigan Consumer Sentiment Index came in above expectations with participants also showing a decline in inflation expectations.