At-a-Glance
Key Takeaways with Craig
On a lighter day in terms of economic data, traders saw a mix of positive and negative gains, with the Nasdaq leading the equity indices higher. Gold and Silver both traded lower on the day, but Gold did happen to hit a new all time high this week. Traders were seeing a slowdown in volatility relative to the big daily ranges since the beginning of April, and there is a lot of momentum on both sides of the market with the tariff uncertainty looming.
Next week brings strong economic data including different inflation and unemployment data that could have an impact on these markets ahead of the May Fed Meeting. To wrap up the week, the markets are still pricing in a rate pause and no rate cuts until the June Meeting. Equity markets finished the week right near the breakdown point from April 2nd and 3rd, and the Nasdaq showed strength today near these levels trying to fully recover from the initial selloff.
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