Perspectives

Market Trends

The Federal Open Market Committee (FOMC) announced its June policy decision today, holding the federal funds rate unchanged in the 3.50%–3.75% target range, an outcome that was widely anticipated.

Market Trends

The market spent the past couple of weeks doing what it sometimes does not do very well, which is hurry up and wait. The Iran conflict sits in a back-and-forth mode, and the read from here is that this administration still wants a deal.

Market Trends

The May Consumer Price Index (CPI), a key measure of inflation that tracks changes in prices across a broad basket of goods and services, was released today. The report showed prices rose 0.5% from April to May and increased 4.2% year over year, in line with expectations.

Market Trends

The May jobs report came in much stronger than expected, with nonfarm payrolls increasing 172,000 versus the consensus estimate of 85,000. Leisure and hospitality, local government, and healthcare led the gains.

Market Trends

Last week was a fully loaded week. The Senate confirmed Kevin Warsh as the next Fed Chair on Tuesday, the President returned from Beijing on Friday with more optics than outcomes, and first quarter earnings season is now mostly behind us.

Market Trends

The April Consumer Price Index (CPI), a key measure of inflation that tracks changes in prices across a broad basket of goods and services, was released today. The report showed prices rose 0.6% from March to April and increased 3.8% year over year, mostly in line with expectations.

Market Trends

The April jobs report came in stronger than expected, with nonfarm payrolls adding 115,000 versus the consensus estimate of 65,000. Health care, transportation, warehousing, and retail trade led the gains, while federal government employment continued its decline.

Market Trends

The Federal Open Market Committee (FOMC) announced its April policy decision today, holding the federal funds rate unchanged in the 3.50%–3.75% target range, an outcome that was widely anticipated.

Market Trends

This morning Jerome Powell likely gavels open his last FOMC meeting as Chair. Although the exact timing is somewhat up in the air, Kevin Warsh’s confirmation is now almost certain.

Capital Thinking

Building on the momentum of a productive acquisitions and divestitures (A&D) environment in 2025, oil and gas deal activity could be robust this year, as initial data shows potentially strong fundamentals of the U.S. energy sector – even as heightened geopolitical tensions and commodity price volatility add near-term complexity.