After six straight weeks of 'weakness', US Macro Surprise data surged higher this week. But good (macro) news is not necessarily good news for markets. After four straight weeks of gains, The Dow suffered its worst week since March 2023. The Russell 2000 also saw its first weekly loss in the last five. The Nasdaq sharply outperformed on the week (hitting a new record) while the S&P managed to rally on Friday to get green for the week. Hawkish Fed Minutes spooked stocks midweek but NVDA's earnings saved the tech-heavy indices. After beating earnings consensus estimates, NVIDIA shares rose 9.3% on Thursday, adding roughly USD 220 billion to its market capitalization. The good news for NVIDIA did not translate into broader gains for the market.

The Dow Jones hits the 40,000-point milestone for the first time ever, China offloads a record amount of US debt in Q1, and the copper market experiences significant disruptions. Each week, the Syz investment team takes you through the last seven days in seven charts.

Despite a recent less hawkish stance from the Fed and emerging signs of a weakening US job market, last week's inflation figures suggest a cautiously improving outlook for fixed income investments. However, ongoing challenges such as increased supply, diminished foreign demand, and a persistently inverted yield curve continue to pose risks.

The Dow Jones Industrial Average, S&P 500 Index, and Nasdaq Composite climbed to record highs during the week, with the Dow crossing the 40k threshold for the first time ever. As inflation and interest rate worries appeared to dissipate, growth stocks outperformed. The major factor supporting sentiment appeared to be Wednesday’s release of the US Labor Department’s April consumer price index (CPI), which came in at or modestly below expectations, in contrast to hotter-than-expected prints over the preceding three months. Thursday’s US retail sales figure was another boost for stocks as bad macro news seemed to be good news for the market (retail sales were flat in April versus consensus estimates of a 0.4% gain).

Rising share buybacks, led by Apple, expected to sustain US stock market rally. US household savings have shrunk considerably just as the US labour market is starting to deteriorate. Each week, the Syz investment team takes you through the last seven days in seven charts.

A week of sharp movements in U.S. Treasury yields reflects a broader market recalibration, as fresh economic data and Fed rhetoric temper expectations for rate cuts, casting new shadows on fixed income outlooks.

The S&P 500 Index is moving back towards its all-time high and recorded its third consecutive week of gains. The other major indexes also advanced, with value stocks generally outperforming growth shares. Market volumes were especially low over much of the week. A surprise rise in weekly jobless claims seemed to dominate the week’s economic calendar: unemployment benefits rose to 231,000 in the week ended the previous Wednesday, its highest since last August. Likewise, continuing claims broke a four-week downward streak and rose to 1.79 million.

The Bank of England (BoE) is set to release its crucial monetary policy decisions this Thursday, a pivotal event with implications that could reverberate across global markets.

April's US economic landscape marked by macro challenges April saw a challenging macroeconomic environment in the US, with the market delaying interest rate cuts once again, equities experiencing their first decline since October 2023, and the earnings season beginning on an uneven note. Each month, the Syz investment team takes you through the last month in ten charts.

An update on latest developments in the US economy