Weekly Market Note

Week of April 27–May 1, 2026

May 1, 2026 Main Management Research

This week’s round-up of economic releases and market insights.

In summary

The FOMC left rates unchanged as expected at its April meeting, but there were 4 dissenters — the most since 1992.
March Core PCE rose +0.29% M/M and accelerated to +3.20% Y/Y, the most since November 2023. Consumer Spending and Incomes both accelerated month-over-month.
The preliminary estimate for Q1 2026 U.S. GDP came in slightly below forecasts at +1.99%, driven by investment spending that should continue.
Core Capital Goods surged +3.3% M/M as AI-related spending drove orders, while Total Durable Goods Orders are unwinding the 2025 tariff-induced distortions.
Building Permits fell markedly in March while Housing Starts posted solid gains; prices remain elevated but continue to decelerate.