Stocks pushed higher last week as investors cheered the White House’s constructive comments on trade, upbeat Q1 corporate reports, and an encouraging jobs report. 
 
The Standard & Poor’s 500 Index gained 2.92 percent, while the Nasdaq Composite Index rose 3.42 percent. The Dow Jones Industrial Average added 3.00 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, advanced 2.56 percent.^1,2

Longest Winning Streak in 20 Years

During the first two trading days, stocks increased as investors responded favorably to White House comments on tariff deals.³
 
Then midweek—on the last day of the month—fresh data showed the economy contracted by 0.3 percent in Q1—the first decline in gross domestic product (GDP) in three years. Stocks initially fell on the news, but staged a stunning recovery to add a seventh day to the S&P 500’s and Dow Industrial’s winning streaks.⁴
 
Q1 corporate reports from a couple of mega-cap tech companies boosted all three major averages over the next session, with Nasdaq leading the rise. By Thursday’s close, Nasdaq had returned to its pre-April 2 levels.⁵
 
The rally accelerated on Friday as a better-than-expected April jobs report eased some concerns about the economy’s strength. Signs of a potential thaw in Washington-Beijing trade relations also boosted enthusiasm. The Dow Industrials rose for a ninth straight session, as did the S&P 500—its longest winning streak in 20 years.⁶

^{Source: YCharts.com, May 3, 2025. Weekly performance is measured from Tuesday, April 29, to Friday, May 2. TR = total return for the index, which includes any dividends as well as any other cash distributions during the period. Treasury note yield is expressed in basis points.}

Solid Jobs Report

The April jobs report showed employers added 177,000 jobs last month—34,000 more than economists expected. 

The report quieted talk about a recession, which was welcomed news. The April figure also showed the economy was still adding jobs despite a sluggish Q1 GDP report. However, the strong report did prompt some traders to push out expectations for an interest rate adjustment until the Fed’s July meeting.^7,8

This Week: Key Economic Data

Monday: ISM Services Index. PMI Composite (final).

Tuesday: Trade Deficit. FOMC meeting – Day 1.

Wednesday: FOMC meeting – Day 2. Fed Decision / Fed Chair Powell Press Conference. Consumer Credit.

Thursday: Jobless Claims. Productivity & Costs. Wholesale Inventories. Fed Balance Sheet.

Friday: Fed Officials speak: Austan Goolsbee (Chicago Fed President), John Williams (New York Fed President) and Beth Hammack (Cleveland Fed President).

^{Source: Investors Business Daily - Econoday economic calendar; May 2, 2025
The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to be providing accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts also are subject to revision.}

This Week: Companies Reporting Earnings

Monday: Palantir Technologies Inc. (PLTR), Vertex Pharmaceuticals Incorporated (VRTX)

Tuesday: Advanced Micro Devices, Inc. (AMD), Arista Networks, Inc. (ANET), Duke Energy Corporation (DUK)

Wednesday: Uber Technologies, Inc. (UBER), The Walt Disney Company (DIS), AppLovin Corporation (APP)

Thursday: Shopify Inc. (SHOP), ConocoPhillips (COP), McKesson Corporation (MCK)

^{Source: Zacks, May 2, 2025. Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule when they report earnings without notice.}

"Lots of people want to ride with you in the limo, but what you want is someone who will take the bus with you when the limo breaks down."

– Oprah Winfrey

Recovering Documents Following a Natural Disaster

Suppose you live in an area that’s prone to natural disasters. In that case, it’s essential to prepare to manage your important documents and paperwork and know what to do if those materials are lost. Here are some tips from the IRS:

• Contact the IRS or search their database online for help reconstructing records after a natural disaster or casualty loss.
• Download  Publication 547, Casualties, Disasters, and Thefts, and Publication 584, Casualty, Disaster, and Theft Loss Workbook, to figure out your loss on business and income-producing properties in the event of a natural disaster.
• Read Publication 3067, IRS Disaster Assistance - Federally Declared Disaster, for information about how federally declared disasters affect individuals and business owners. This document also covers the assistance available to victims.

This information is not a substitute for individualized tax advice. Please discuss your specific tax issues with a qualified tax professional. 

Tip adapted from IRS⁹

Everything You Need to Know About Walking Meditation

You’ve likely heard about sitting meditation, where you’re encouraged to find a comfortable place to sit or recline, but have you ever heard of walking meditation?

Walking meditation follows similar principles to sitting or lying meditation, but instead of staying in the same place, you focus on your footsteps and walking. The goal is to be mindful of every step and experience something we usually do automatically. You can focus on each step's mechanics, breathing, or the sights and smells on your walk. And you don’t have to walk far to enjoy the benefits! A 10-minute walk will leave you more focused, mindful, and centered.

Tip adapted from Greater Good in Action at Berkeley¹⁰

It has dozens of fine teeth, but you can hold it in your hand, and it will never bite you. What is it?

Last week’s riddle: What 10-letter word (in English) can you type using only the topmost row of letters on a computer keyboard (the Q-P row)? Hint: the first two letters of the word are next to each other in the Q-P row.
Answer: Typewriter.

African Cheetah
 Johannesburg, Gauteng, South Africa 

Footnotes and Sources

^{1. The Wall Street Journal, April 25, 2025}

^{2. Investing.com, April 25, 2025}

^{3. MarketWatch.com, April 21, 2025}

^{4. CNBC.com, April 22, 2025}

^{5. The Wall Street Journal, April 23, 2025}

^{6. CNBC.com, April 24, 2025}

^{7. The Wall Street Journal, April 25, 2025} 

^{8. MarketWatch.com, April 24, 2025}

^{9. IRS.gov, October 17, 2024}

^{10. Berkeley.edu, December 12, 2024}

^{Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost.}

^{The forecasts or forward-looking statements are based on assumptions, may not materialize, and are subject to revision without notice.}

^{The market indexes discussed are unmanaged, and generally, considered representative of their respective markets. Index performance is not indicative of the past performance of a particular investment. Indexes do not incur management fees, costs, and expenses. Individuals cannot directly invest in unmanaged indexes. Past performance does not guarantee future results.}

^{The Dow Jones Industrial Average is an unmanaged index that is generally considered representative of large-capitalization companies on the U.S. stock market. Nasdaq Composite is an index of the common stocks and similar securities listed on the NASDAQ stock market and is considered a broad indicator of the performance of technology and growth companies. The MSCI EAFE Index was created by Morgan Stanley Capital International (MSCI) and serves as a benchmark of the performance of major international equity markets, as represented by 21 major MSCI indexes from Europe, Australia, and Southeast Asia. The S&P 500 Composite Index is an unmanaged group of securities that are considered to be representative of the stock market in general.}

U.S. Treasury Notes are guaranteed by the federal government as to the timely payment of principal and interest. However, if you sell a Treasury Note prior to maturity, it may be worth more or less than the original price paid. Fixed income investments are subject to various risks including changes in interest rates, credit quality, inflation risk, market valuations, prepayments, corporate events, tax ramifications and other factors.

International investments carry additional risks, which include differences in financial reporting standards, currency exchange rates, political risks unique to a specific country, foreign taxes and regulations, and the potential for illiquid markets. These factors may result in greater share price volatility.

Please consult your financial professional for additional information.

This content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG is not affiliated with the named representative, financial professional, Registered Investment Advisor, Broker-Dealer, nor state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and they should not be considered a solicitation for the purchase or sale of any security.

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