• Skip to main content
  • Skip to header right navigation
  • Skip to site footer
Bautis Financial

Bautis Financial

Secure your Castle, Achieve your Dreams.

  • Schedule a Call
  • Podcasts
    • Agent of Wealth
    • Clear a Path
  • About
    • Our Approach
    • Our Team
    • Our Difference
  • Who We Work With
    • Individuals and Families
    • Small Business Owners
    • Retirees and Pre-Retirees
    • 401k Plan Sponsors
  • Insights
    • Blog
    • Business Valuation Advisor
    • College Planning Hub
    • Discover How
    • Learning Center
    • Risk Score
  • Client Access
    • Wealth Center
    • Orion

Market Recap Week of 5/31/2022 Through 6/03/2022 – Daily Flash Briefing

June 6, 2022 by Bautis Financial
Stock Market Weekly Recap

Listen to our weekly stock market recap, including a look at the week ahead.

The S&P 500 index declined 1.2% last week amid mixed signals on the US economy from corporate earnings reports and May jobs data.

The S&P 500 concluded May on Tuesday with a monthly increase of just 0.01% as a 6.6% jump in the index last week managed to offset declines posted in other weeks. Despite ending nearly flat with where April closed, May was a tumultuous month in which the S&P 500 came close to bear market territory but narrowly escaped it. The index is now down 14% for the year to date.

Investors started June seeking indications of how well the US economy is handling higher rates and prices. However, quarterly earnings have been mixed, with some companies still reporting results above expectations while others have missed estimates or issued weaker-than-anticipated guidance amid inflation and/or currency impacts.

Friday, May jobs data from the Labor Department also came in mixed. While the data showed nonfarm employment increased by 390,000 jobs last month, topping the Econoday consensus estimate for a 325,000 rise, this represents a slowdown from April’s upwardly revised 436,000 jobs increase. Also, the unemployment rate was unchanged at 3.6% when an improvement to 3.5% had been expected, and the Labor Department noted nonfarm employment is still 822,000 short of its February 2020 level.

By sector, health care had the largest percentage drop of the week, down 3.1%, followed by a 2.2% decline in real estate and a 2.1% loss in financials. Other sectors in the red included consumer staples, utilities, technology, materials and communication services.

On the upside, energy climbed 1.2% while industrials and consumer discretionary eked out gains of less than 0.1% each.

This week’s earnings calendar will feature J.M. Smucker (SJM), Campbell Soup (CPB), Five Below (FIVE) and Vail Resorts (MTN).

On the economic calendar, all eyes will be on May consumer price data and five-year inflation expectations set to be released Friday.

Get instructions on how to enable our Flash News Briefing skill to your Amazon devices:

Bautis Financial’s Amazon Alexa Daily Flash News Briefing
Category: Finance News, InvestmentsTag: Market Recap, Market Trends, Stock Market, Stock Market Trends, Stock Market Update, Weekly Market Recap
Previous Post: « Marc Bautis Advisor Commentary Bautis Financial Advisor Commentary: June 3, 2022
Next Post: May 2021 Jobs Report: U.S. Economy Adds 390,000 Jobs May 2021 Jobs Report »

Subscribe to Our Insights

Sign up to receive valuable financial insight and updates straight to your inbox each week.

Social

Follow along on social media

Contact

Bautis Financial
7 North Mountain Ave
Montclair, NJ 07042
Get directions
862-205-5800
Contact

Navigation

  • Schedule a Call
  • Podcasts
    • Agent of Wealth
    • Clear a Path
  • About
    • Our Approach
    • Our Team
    • Our Difference
  • Who We Work With
    • Individuals and Families
    • Small Business Owners
    • Retirees and Pre-Retirees
    • 401k Plan Sponsors
  • Insights
    • Blog
    • Business Valuation Advisor
    • College Planning Hub
    • Discover How
    • Learning Center
    • Risk Score
  • Client Access
    • Wealth Center
    • Orion

Copyright © 2023 · Bautis Financial · All Rights Reserved · Powered by Mai Theme

Return to top