Weekly Market Update

The Week on Wall Street

Stocks ended mixed as falling oil prices helped lift the Dow Industrials, while concerns about AI valuation put pressure on the broader market.

The Standard & Poor’s 500 Index fell 1.95 percent while the Nasdaq Composite Index skidded 4.60 percent. The Dow Jones Industrial Average rose 0.60 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, lost 1.33 percent.

Dow Industrials Take The Lead

The S&P 500 and Nasdaq indexes were under pressure to start the week as the AI trade and tech more broadly came under scrutiny. But the Dow Industrials made a modest gain for the day.3

The rotation away from tech continued Tuesday, with large consumer stocks faring particularly well, which minimized the Dow’s decline. The S&P fell about 1.4 percent for the day, while the Nasdaq fell more than 2 percent.

Midweek, stocks were mixed. Healthcare, financial, and industrial sectors carried the Dow to small gains on Wednesday and Thursday. Conversely, continued pressure on tech shares led the S&P and Nasdaq down, albeit at a slower pace than earlier in the week.

Then markets flattened out as the week wrapped up. The slow-but-steady Dow logged its 3rd consecutive weekly gain, while the Nasdaq and S&P 500 were under steady pressure during the week.

Inflation Update

The Fed’s preferred measure of inflation, PCE, or the Personal Consumption Expenditures Index, came in as expected for May. While the core number, which excludes energy, was at its highest level since October 2023. However, investors appeared relieved that there were no surprises.

Key Economic Data

Tuesday: S&P Case-Shiller Home Price Index. Chicago Business Barometer. Consumer Confidence. Job Openings/Labor Turnover.

Wednesday: ADP Employment Report. Purchasing Managers Index (PMI)—Manufacturing. Institute for Supply Management (ISM)—Manufacturing. Construction Spending.

Thursday: Employment Report. Weekly Jobless Claims. Factory Orders.

Source: Econoday

Companies Reporting Earnings

Tuesday: Nike, Inc. (NKE)

Wednesday: General Mills, Inc. (GIS)

Source:Zacks.com

4 Benefits Of Yoga

In addition to helping you finally touch your toes, yoga may confer many other benefits, from helping you relax to even potentially helping your heart health. Below are some other potential benefits of yoga:

• Yoga can decrease stress and promote relaxation. Becoming more in tune with your body and where you hold stress is rewarding.
• Yoga may also be able to relieve anxiety. In one study, 34 women diagnosed with an anxiety disorder participated in yoga classes twice weekly for two months. At the end of the study, those who had practiced yoga had significantly lower levels of anxiety than the control group.
• Yoga may help improve heart health and reduce several risk factors for heart disease. One study found that participants over 40 who practiced yoga for five years had lower blood pressure and pulse rates than those who did not.
• Lastly, yoga may help fight depression; this may be because yoga can decrease cortisol levels, a stress hormone that influences serotonin levels, the neurotransmitter frequently associated with depression.

Tip adapted from Healthline

Coconut Fried Shrimp Tacos

Serves: 6 tacos

Ingredients:

• 1½ cup thinly sliced red onion
• 1 Tbsp. kosher salt, divided
• ¼ cup fresh lime juice
• 1½ cups all-purpose flour
• ¼ cup cornstarch
• 1 tsp. dried oregano
• ¾ cup light beer
• 2 cups sweetened shredded coconut
• 1 lb. medium shrimp, peeled and deveined
• Six 6-in. flour tortillas, warmed
• Habanero salsa (optional), pickled jalapeños, cilantro, shredded red cabbage, and crema or sour cream, for serving
• Lime wedges, for serving
• Neutral oil, for frying

Directions:

1. In a medium bowl toss together the onion and a pinch of salt. Add the lime juice and set aside to pickle while you cook the shrimp.
2. Fit a heavy-bottomed pot with a deep-fry thermometer and add oil to a depth of 1½ inches. Cook over medium-high heat, until the oil reaches 350°F. Line a baking sheet or heatproof platter with paper towels and set it by the stove.
3. Meanwhile, in a large bowl, stir together the flour, cornstarch, oregano, and 2 teaspoons of salt. Stir in 1 cup of cold water followed by the beer. Pour the shredded coconut onto a wide plate or shallow bowl. Dredge the shrimp in the batter, then dip in the coconut to coat. Fry the battered shrimp in batches until golden brown and cooked through, 4–5 minutes per batch. Use a heatproof slotted spoon or spider skimmer to transfer the shrimp to the lined baking sheet to drain while you continue frying the rest.
4. Serve the shrimp in warm flour tortillas, with the reserved pickled red onions, habanero salsa, pickled jalapeños, shredded red cabbage, and crema, and lime wedges on the side.

Recipe adapted from Saveur

Warm Up for Golf

• Warming up is crucial to avoid injuries in golf and shoot lower scores.
• Whether you have 10, 30, or 60-minutes before the round there are tons of ways to get your mind and body ready.
• A good warm up should include a mix of static stretching, driving range time, and spending time at the short game area.

Here’s the right way to warm up on the driving range:

• Start with practice swings with your feet shoulder width apart taking light swings.
• Start with short pitch shots and then into full wedges. Move on from wedges to short irons and mid-irons.
• Then move on to hybrids and fairway woods. Once you’re loose, then start hitting drivers.
• If you have a lot of extra time before the round you can play the first few holes on the range. Try to simulate what clubs you’ll hit and go through your pre-shot routine so you’re ready for the first few holes.
• Always end your range session with the club and shot you’ll use on the first tee shot of the day.

Tip adapted from theleftrough.com

Protect Your Tax Data

The Internal Revenue Service (IRS) shared guidelines for tax pros to protect taxpayer data, but these principles are sound for everyone to follow.

Antivirus software: This software scans computer files for malicious software (malware) on the device. Antivirus vendors find new issues and update malware daily. Always install the latest software updates on your computer.

Two-factor authentication: This adds an extra layer of protection beyond just a password. Not only do you enter your username and password, but you also enter a security code that the service provider can send to another device for extra protection.

Drive encryption: Encrypts sensitive data into unreadable code that unauthorized users cannot easily decipher, so only authorized users can access it.

Tip adapted from IRS.gov

Financial planning and investment advisory services offered through Cleveland Wealth, LLC, a Registered Investment Advisor. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified wealth advisor and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.