Your Capital Markets Snapshot: U.S. Equities Continued their Recent Bullish Momentum

Last week, U.S. equities continued their recent bullish momentum, with the S&P 500 and Nasdaq both reaching new all-time highs. Economic data supported this positive trend, with the U.S. labor market showing resilience as nonfarm payrolls exceeded expectations, adding 227,000 jobs. The unemployment rate ticked up slightly to 4.2% but remains below long-term averages. Additionally, the ISM manufacturing and services PMI indicated expansion, suggesting ongoing economic growth. The Atlanta Fed's GDPNow model was revised higher to 3.3%, reflecting strong economic data. Despite potential for policy uncertainties from the next regime and market volatility, the overall economic backdrop remains strong, providing opportunities for investors.