US stocks were whipsawed over the week on inflation concerns. The S&P 500 and Dow both dropped 1.4% for the week. Abroad, the FTSE All World Ex US fell 1.7% for the week. The yield on the 10-year Treasury yield rose over the week from 1.58% to finish at 1.64%.

China’s produce price index rose 6.8% in April the fast pace since 2017 and raising fears of a global acceleration in inflation.

US home prices rose across the board in the first quarter with home prices up by more than 10% from a year earlier in 89% of metro areas.
US consumer prices climbed a more than expected 4.2% over the past year for the largest jump in inflation since 2008. However, if the effects of price declines that occurred last April are removed prices increased 0.8% in April.

Producer prices posted the largest ever annual jump since the measure was first tracked in 2010.

Initial jobless claims fell to a new post pandemic low.

With roughly 90% of S&P 500 companies reporting earnings to date, 86% have reported earnings that topped estimates, the highest level since the measure was first tracked in 2008.