Best Week Since 2024 Elections
U.S. equities posted solid gains with the S&P 500 notching its best weekly performance since the week of the November 6 presidential election. Investors cheered Wednesday’s CPI report showing a modest easing in core consumer prices (excluding food and energy items). The annualized core CPI slipped to 3.2% from 3.3%, its first deceleration in Y/Y price growth since July. This in turn stirred the 10-year Treasury yield to tumble nearly 0.14% to 4.650%, the largest daily pullback in a month. Wall Street also cheered a strong start of the 4Q earnings season, with banking giants reporting robust results.
The Weekly Recap is published by Cetera Investment Management LLC, an SEC registered adviser owned by Cetera Financial Group. Cetera Investment Management provides market perspectives, portfolio guidance, model management, and other investment advice to its affiliated broker-dealers, dually registered broker-dealers and registered investment advisers.