MARKET RECAP

• The SPX was up 1.06% for the week and 5.96% for the week.
• After Trump threatened a 25% tariff on Mexico, Mexican President Claudia Sheinbaum said she would retaliate. But by the end of the week, all was good; they both said they had a great meeting.
• Investors seem to believe that Trump’s tariffs are a negotiating tool.
• Valuations are sky high, the trailing p/e is about 26, and the Magnificent Seven sells at 30 times forward earnings.
• Core PCE was 2.8% year over year.

SCOREBOARD