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Last week, Wednesday’s gains punctuated the week in large part due to the activity following the FOMC Meeting, where they voted to hold interest rates held steady.

The highly anticipated FOMC meeting takes place this week. Analysts anticipate the Fed Funds Rate will hold steady at the 5.25 to 5.5 range given the persistent inflation readings.

Following a blowout of an emergency door on a Boeing 737 Max in January, orders from Boeing almost completely disappeared for a month.

The Fed voted to hold interest rates steady at 525 – 550 basis points. However, it was Powell’s comments after the meeting that caught the markets’ attention. While there was still a lot of hedging in his statement on Wednesday, his comments stood as a marked shift in tone. This gave quite the gift to both the equity and bond markets.

Explore the latest insights on the financial markets with Larson Market Commentary. Dive into the fifth consecutive week of gains for the S&P 500, discover the standout performance of Small Cap Value stocks, and stay updated on key market indices and S&P sectors. Get expert analysis on the economic landscape, including missed expectations in New Home Sales and the dynamic shifts in the Yield curve. Agent/Broker Dealer Use Only.

The dominant economic news last week was around the topic of inflation. Retail Sales came in hotter than expected on Tuesday. On Wednesday, Housing Starts came in just slightly below expectations while Building Permits exceeded expectations. This was echoed on Thursday with Existing Home Sales which came in slightly above estimates.