After an April sell-off saw the US market fall 5.5% from its all time, the S&P 500 rebounded 2.7% last week, its best performance in almost six months. This came despite another hotter than expected inflation report, with the headline PCE (the Fed's preferred inflation gauge) increasing at an annual rate of 2.7%. Solid earnings releases drove the gains, and with 46% of the market having reported 80% of companies have beaten expectations. Most other sharemarkets followed suit, with the FTSE 100 in the UK rising 3.1% to a fresh highs and emerging market shares gaining 3.7%. This coming week is a very busy one, with some major US economic releases due as well as a Federal Reserve meeting. There's plenty happening locally too, with the ANZ Business Outlook survey for April due on Tuesday and the labour force report for the March 2024 quarter out on Wednesday. The unemployment rate is expected to rise from 4.0% to 4.3%, the highest in three years and well above multi-decade low of 3.2% from early 2022. Last but not least, there will be more international earnings releases to monitor across the world, with 175 S&P 500 companies scheduled to announce results.

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“What did the council decide on item 42?” — answered with the speaker and the moment.