This just in: CEO Chris Shuba in Financial Planning

Read the highlights of this week’s commentary from Helios:

The S&P 500 bounced 6.62% on a total return basis after seven back-to-back weeks of losses.

The first quarter’s GDP was revised slightly downward, from -1.4% to -1.5% annualized, from weaker corporate profits, though consumer spending was revised upward to 3.1%

Consumer demand continues to be strong, though it appears consumers are dipping into savings to keep demand hot, with spending in April rising 0.9% and incomes rising 0.4%. Further, March’s consumer spending figures were revised upward as well. While the consumer continues to be the major driving force behind the economy right now, the savings rate fell to a 14-year low, and dipping into savings can’t last forever.

There continues to be a massive amount of job openings around the economy, with 53% more jobs open at the end of March compared to the pre-pandemic peak and initial jobless claims continuing to run at low levels.

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