Stocks were mixed last week as volatility dropped despite ongoing trade concerns and the Federal Reserve’s update on short-term rates.

The Dow Jones Industrial Average added 0.16 percent, while the Standard & Poor’s 500 Index lost 0.47 percent. The tech-heavy Nasdaq Composite Index slipped 0.27 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, fell 0.37 percent.

Stocks Go Sideways

Stocks dropped on Monday, ending the S&P 500’s 9-day winning streak as the trade anxiety weighed on investors.

Sentiment picked up midweek, however. In a widely expected move, the Fed held short-term interest rates steady but warned of lingering uncertainty around tariffs’ effects on inflation and unemployment.

On Thursday, the U.S.-U.K. trade deal sparked a slight rally, but stocks flattened as the week ended. Investors appeared to be risk-averse with U.S.-China trade talks scheduled for the weekend.

The Fed Fans Out

The Federal Reserve wanted to get its message out last week. Within 48 hours of the Fed’s decision to leave interest rates unchanged, nearly every Fed governor gave a solo speech or discussed the decision on a panel.

One Fed official spoke about the benefits of long-term stability from an independent Fed. At the same time, another said the Fed was paying close attention to what consumers did—and not just what they said, suggesting that flagging consumer sentiment didn’t necessarily mean a slowdown in spending.

The Fed seemed to focus on managing expectations. Perhaps more importantly, Fed officials spoke from a coordinated playbook, possibly designed to help settle financial markets.

Monday: Federal Budget.

Tuesday: Consumer Price Index (CPI). NFIB Small Business Optimism Index.

Wednesday: San Francisco Fed President Mary Daly speaks.

Thursday: Retail Sales. Jobless Claims (weekly). Producer Price Index (PPI). Industrial Production. Business Inventories. Home Builder Confidence Index.

Friday: Retail Sales. Jobless Claims (weekly). Producer Price Index (PPI). Industrial Production. Business Inventories. Home Builder Confidence Index.

Source: Econoday

Wednesday: Cisco Systems, Inc. (CSCO)

Thursday: Walmart Inc. (WMT), Deere & Company (DE), Applied Materials, Inc. (AMAT), NetEase, Inc. (NTES)

Source:Zacks.com

Sources: YCharts.com, May 10, 2025

Weekly performance is measured from the close of trading Monday May 5, to Friday, May 9 close.

Stay Safe This Summer With These Open Water Safety Tips

Summer is the perfect time to spend at the beach, lake, or river. But unfortunately, these natural bodies of water can also be hazardous if you don’t know how to stay safe. Here are some tips to help you and your family stay safe in the water this summer:

• Only swim in the designated swimming area. Take note of flags and buoys that mark where you can and can’t swim.
• When in doubt, get out! If something doesn’t feel suitable, such as a current picking up, it’s better to use caution and get out.
• Know the conditions before you swim. The more you know about water levels, temperature, and current, the better.
• Never swim alone when in open water. Always swim with a buddy who can look out for you, and you can look out for them.

Tip adapted from  National Drowning Prevention Alliance

Absurdly Addictive Asparagus

Serves: 4

Ingredients:

• 4 ounces pancetta, cut into 3/8 inch to 1/4 inch dice
• 1 tablespoon butter
• 1 pound asparagus, woody ends trimmed and sliced into 2 inch pieces on the bias
• 1 1/4 cups leek, thinly sliced crosswise (white and pale green parts only)
• 2 cloves garlic, minced
• Zest of one lemon
• 1 teaspoon orange zest
• 2 tablespoons toasted pine nuts
• 1 tablespoon Italian parsley, chopped (more to taste)
• Salt and freshly ground pepper to taste

Directions:

1. In a large non-stick pan, sauté pancetta, stirring frequently, over medium heat, until crisp and lightly golden.
2. Add 1 tablespoon of butter to pan. Add asparagus pieces and leek and sauté until asparagus is tender crisp, about 3-4 minutes.
3. Add garlic, lemon and orange zest, toasted pine nuts and parsley and sauté for about 1 minute, until fragrant. Season to taste with freshly ground pepper and salt and serve immediately.

Recipe adapted from Food52

Aerated Greens

• Every course aerates their greens (also known as punching) usually several times per year.
• Most golf courses are played in April and September-October. While hotter climates like Arizona might aerate earlier in June before the summer heat.
• The process only takes a few days (the course is closed) but recovery can take 2-3 weeks depending on the weather conditions.
• Aside from core aeration, there are other types of aeration throughout the year. Some of which are much less intensive and allow the greens to “vent” without interrupting the conditions for players.

Tip adapted from theleftrough.com

Don’t Forget To Take Advantage Of The Work Opportunity Tax Credit

The work opportunity tax credit is a federal tax credit for business owners who have hired individuals from target groups that would have otherwise faced significant barriers when looking for a job. Some target groups include summer youth employees, those receiving Supplemental Security Income, or qualified long-term unemployment recipients. There are ten targeted groups in total.

The work opportunity tax credit equals 40% of up to $6,000 in wages paid or incurred, with a maximum credit of $2,400. The WOTC may consider up to $24,000 in wages for certain qualified veteran-targeted groups. The restrictions are on the IRS website.

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

Tip adapted from IRS

Photo of the Week

Golden Temple

Laojunshan, Luoyang, China

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.