Your Capital Markets Snapshot: Equity Markets Trended Upwards

Last week, equity markets trended upwards, with the S&P 500 continuing to reach record highs, driven by confidence in a strong U.S. economy. Despite rising oil prices, yields, and geopolitical tensions, stocks rebounded after initially falling to start the week. The Consumer Price Index (CPI) report came in slightly above expectations, and Initial Jobless Claims hit a one-year high but may be the temporary result of impacts from Hurricane Helene and the Boeing strike. Bond yields rose, with the 10-year Treasury yield increasing to 4.08% from 3.98%, as markets begin to cool down on expectations of continued aggressive rate cuts from the Federal Reserve and react to strong economic data, such as the Atlanta Fed's Q3 GDP forecast being revised up to 3.2%.