Economic Beat: Financial News

How will current market developments affect you? The thought leaders at Fifth Third Bank can help make sense of it all. Listen to the Economic Beat as they discuss what happened last week and what they expect will be the focus of this week. Click the button below to listen or read the transcript to this week's Economic Beat.

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Past Economic Beats

May 23, 2022

The U.S. dollar dropped sharply against major peers

Major U.S. equity indices dropped yet again last week, with the S&P 500 Index clocking its seventh weekly decline in a row. Fed watchers and market participants are trying to assess whether the Fed will be able to engineer a so-called “soft landing” by helping slow inflation without cutting off economic growth. The U.S. dollar dropped sharply against major peers, after gaining in the preceding four weeks.

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May 16, 2022

The S&P 500 notched its sixth weekly loss in a row

U.S. equity markets rallied on Friday but declined for the week, driven by concerns about inflation and the prospect of more aggressive tightening by the U.S. Federal Reserve (Fed). With consumer spending rotating back to services from goods, it is possible to expect further easing in goods pricing the months ahead.

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May 9, 2022

The S&P 500 and Nasdaq were both down for a fifth-straight week

The S&P 500 and Nasdaq were both down for a fifth-straight week, the longest streak for the S&P since 2011 and Nasdaq since 2012. The May FOMC meeting ended with a 50 basis point rate hike, as expected, while the Fed also announced the start of the balance sheet drawdown, starting in June. The hike was the largest in 22 years and an escalation in the Fed’s fight to bring down prices.

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May 2, 2022

Major U.S. equity indices dropped last week

Major U.S. equity indices dropped last week. The S&P 500 Index fell 3.3% in total return for the week, while the Nasdaq Composite dropped 3.9% and the Dow Jones Industrial Average fell 2.5%. On the economic calendar, the first reading on first quarter U.S. economic growth unexpectedly showed a contraction. U.S. gross domestic product (GDP) shrank for the first time since 2020, falling at a 1.4% annualized rate in the first three months of the year, following a 6.9% annualized increase in the fourth quarter of 2021.

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