Happy Mother’s Day! We are grateful for the mothers and women in our lives who have provided so much strength, goodness, and light in our lives.
Markets rebounded in April, with the S&P 500, Dow, and Nasdaq all posting strong gains driven by earnings growth and renewed investor optimism. Economic updates released during the month were largely positive, with first-quarter GDP growth improving from late-2025 levels. The economy also added a solid 178,000 jobs in March, the strongest month of hiring in over a year. On the consumer front, we saw signs of stabilizing sentiment and continued spending strength.
But how could the ongoing conflict in the Middle East and higher oil prices affect the path forward? Watch the latest Market Thoughts video from Chris Fasciano to learn more: blog.commonwealth.com/independent-market-observer
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March was a bad month for the markets. It was a natural response to wonder whether portfolio adjustments were appropriate. Here, and in our meetings with you, we recommended staying the course.
April reversed the downward trend with the best single-month performance for the S&P 500 since November 2020. It was further evidence that trying to time the market is a bad idea. The ongoing disruption caused by the war with Iran is an ongoing concern. However, it is not a good reason to make dramatic changes, especially when the overall economic climate remains positive.
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Here are some interesting items that caught our attention:
GLP-1 weight loss drugs have led to a meaningful reduction in total caloric demand, as much as 3%. That could ultimately mean millions fewer truckloads of food each year. The long-term implications will be fascinating to watch.
Still planning a summer vacation? This ranking of the most expensive U.S. destinations may be helpful. Anchorage, Alaska topped the list, edging out New York City and Hawaii, while Clearwater and Gettysburg ranked among the most affordable.