- The S&P 500 closed at 7,718.60, up 0.1% for the week and 12.8% in 2026, while the index trades at 21.4x FactSet's FY26 earnings estimate of $361.38.
- The two-year Treasury yield reached 4.37% as stronger employment data reinforced expectations for a longer period of restrictive Federal Reserve policy.
- Market breadth weakened beneath the headline index gain: the equal-weight S&P 500 fell 0.5% for the week, and a 20x earnings multiple would imply an index level near 7,228 in the source's sensitivity analysis.
Quotes
“If inflation comes in hot, I would consider a rate hike.”