Stocks gained over the week after Fed governors in comments reassured investors that they plan to be patient in removing support for the economy. The S&P 500 rose 1.2% and Dow gained 1.0% for the week. Abroad, the FTSE All World Ex US climbed 1.7% for the week. The yield on the 10-year Treasury ticked down from 1.63% to end May at 1.59%.
Home price growth reached its highest level in 15 years in March.
The core personal consumption expenditures index, used by the Fed to track inflation, rose a higher than expected 3.1% from a year earlier. Fed officials have reiterated their intention to maintain their easy money policies for some time.
Initial jobless claims reached a new post-pandemic low last week.
Consumer spending rose 0.5% in April.