Weekly Commentary | May 14, 2023

Macro Picture

The big news of the week was the inflation falling only fractionally likely sidelining the Federal Reserve for some time.  The major indices were mostly lower shedding about 1% of their YTD gains.  The Dow is nearly back to where it started the year but the S&P is up 8% and the Nasdaq up 17.8%.

Core inflation, which is the headline inflation…