Weekly Market Bullets

for the week ending 5/15/2026

• US Equity Markets generally declined last week as inflation data disappointed and there was no apparent meaningful progress on key issues from the meetings between President Trump and China's Premier Xi. After starting the week strongly, the S&P 500 gave back most of its gains, squeezing out a 0.1% gain for the week, now up 8.2% for the year. The Nasdaq fell 0.1% for the week to bring its gains for the year to 12.8%, while the Russell 2000 (small cap stocks) decreased 2.4% for the week and is now up 12.6% for the year.

• Global Equity Markets fell as well last week with no resolution around the re-opening of the Strait of Hormuz. Developed Markets declined 1.6% for the week and are now up 4.7% for the year. Emerging Markets were down 2.5% for the week to bring their gains for the year to 18.8%.

• US Inflation Data Hotter than expected, causing rates to rise. The Consumer Price Index (CPI) for April was up 3.8% from a year ago, worse than expected and up from 3.3% in March. Core CPI, which excludes food and energy, rose 2.8% from last year, also worse than expected and up from 2.6% in March. As a result, interest rates rose to their highest levels in a year, with the yield on the 10-Year US Treasury closing at 4.59% vs. 4.36% the prior week.

• Data suggest Financial Stress is Easing for US Households? According to Apollo Group and data from the Fed, the number of households that expect to miss a minimum debt payment within the next three months hit its lowest level since 2023. This seems counterintuitive given the rising pressures on US consumers, but does indicate that households in aggregate may be feeling better about their financial circumstances.

Market Data

for the week ending 5/15/2026