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The Quiet Period

The beginning of the week showed investor optimism as the S&P 500 reached 1,900 for the first time ever on Tuesday. Tuesday marked the third consecutive record close for the Dow Jones industrial average and the S&P 500, while the NASDAQ continued to lag its peers. The positive sentiment was slightly hindered by a weaker-than-expected consumer spending report. Despite warmer weather, consumers didn’t spend much more in the past month; U.S. retail sales inched up only 0.1% in April. This may have had something to do with the fact that consumer prices posted the biggest increase since last summer; the Labor Department reported on Thursday that the consumer price index jumped 0.3% last month.

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