All three major U.S. equity averages ended positive last week, capping gains for the first time in three weeks. Investor sentiment improved after President Trump outlined plans for reciprocal tariffs but in relief, he opted to delay implementation with offers for impacted nations to conditionally negotiate alternatives. Equities were also supported by renewed AI optimism and further broadening in quarterly earnings growth. Meanwhile, a slowdown in retail sales and slightly hotter-than-expected consumer and wholesale inflation reports kept a lid on gains.