Weekly Market Recap
May 13, 2022
Stocks rallied Friday, but still fell overall for the week as investors weighed the latest readings on inflation and comments from Federal Reserve officials. The Labor Department reported headline the April Consumer Price Index (CPI) up 8.3%, while Core CPI (which excludes the more volatile energy and food prices) rose 6.2% on a year over year basis. April’s Producer Price Index (PPI) showed an increase of 11.0%, with Core PPI rising 8.8% over the past 12 months. Resilient demand combined with rising wages and tight supplies continue to boost consumer goods and services pricing. The global supply chain continues to be impacted by the ongoing Russia-Ukraine conflict and the COVID-19 lockdowns in China, most notably affecting the supply of metals, energy commodities, semiconductor chips, and grains. Next week, we are looking at updates on retail sales, industrial production, building permits and housing starts, along with initial jobless claims. This Monday, May 16, we are sponsoring the third of a three-part webinar series on Planning Your Retirement. Please click here for details and to register: https://mybuckingham.com/events/planning-your-retirement-webinar-series. Earlier this year we hosted a webinar “How to Buffer Your Financial Plan and Investments Against Market Volatility”. Given the increased market volatility, we believe it is still timely and hope you may find it helpful. Please click here for the replay https://vimeo.com/channels/buckinghamvideolibrary. If you have a friend or family member who could benefit from our planning, investment, and/or tax services, please direct them to https://mybuckingham.com/contact.
Emily M. Cozad
Portfolio Manager & Research Analyst