MARKET DAILY

Market 05/28: Breaking Highs Despite War and the Economy

US and Iran exchange strikes, revised GDP falls, PCE higher than expected

In case you missed our recent top articles:

Key highlights:

  • US bombs Iran, Iran retaliates

  • Revised Q1 GDP down to +1.6% QoQ

  • US oil inventories fall for 5th week, SPR draws 9 million barrels

  • April PCE inflation in line with expectations

  • Spending outpaces income, savings rate declines

  • April new home sales plunge

  • April durable goods orders double forecasts

  • Weekly jobless claims rise to 215K

  • Strong auction for $44 billion of 7-year bonds

  • CVS restores coverage for Zepbound

  • Market: Excess liquidity and no fear

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