While artificial intelligence stocks continued to power markets higher through Thursday, investor sentiment shifted sharply on Friday, sending all major indices lower to close the week.
Inflation concerns resurfaced after April producer prices posted their largest increase since 2022, raising fears that price pressures may remain stubbornly elevated. At the same time, rising Treasury yields added to market anxiety, with the 30-year Treasury bond climbing above 5%.
The combination of persistent inflation and higher interest rates sparked Friday’s broad-based selloff as investors reassessed the outlook for Federal Reserve policy and future market valuations.
Treasury Yields
- 30-year Treasury: 5.107% (higher)
- 10-year Treasury: 4.566% (higher)
Mortgage Rates
- Average 30-year fixed (Freddie Mac): 6.36% (lower)
Commodities & Currency
- U.S. dollar index: 99.30 (higher)
- Crude oil: $104.07 per barrel (much higher)
- Natural gas: $2.950 (much higher)
- Gold: $4,546 per ounce (lower)
- Silver $76.420 per ounce (lower)
The National Association of Realtors
- Existing home sales, April +0.2%, 12 months unchanged
- Unsold inventory April +5.8%, 4.4 month supply
- Median price of existing-home sale +0.9% April to $417,700
Monthly Treasury Statement
Federal Reserve – Industrial Production
- +0.7% April, +1.4% 12 months
- Manufacturing +0.6% April, +1.3% 12 months
- Mining (Including oil and gas production) -0.1% April, +0.2% 12 months
- Utilities +1.9% April, +2.7% 12 months
Commerce Department
Retail Sales +0.5%, April
Labor Department
Consumer Price Index (April)
- +0.6% month, +3.8% year
- Excluding volatile food and energy +0.4% Month +2.8% year
- Energy +3.8% month, +17.9% year
- Fuel Oil +5.8% month, +54.3% year
- New vehicles -0.2% month and +0.2% year
- Used cars and trucks 0.00% month, -2.7% year
- Medical Care Commodities -0.4% month and -0.5% year
- Excluding volatile food and energy +0.4% Month +2.8% year
Producer Price Index (April)
- +1.4% month, 6.0% 12 months
- Excluding volatile food, energy and trade services +0.6% month, 4.4% 12 months
Import/Export Price Indices (April)
- Import prices +1.9% month, 4.2% 12 months
Source: U.S. Department of Labor
- Export prices +3.3% month, 8.8% 12 months
Source: U.S. Department of Labor
Jobless Claims (prior week)
- New Claims 211,000 (higher)
- 4-week Moving Average 203,750 (higher)
- Total Claims 1,782,000 (higher)
Energy & Industry Data
Energy Information Administration
- Weekly Oil Production 13.710 million barrels (higher)
- Natural Gas Storage +85 billion Cu.Ft., above average for this time of year over the past 5 years.
Baker Hughes Rig Count
- Oil rigs: +5 at 415
- Gas rigs: -1 at 128
Factset reported with 91% of S&P 500 companies reporting, blended Q1 earnings are up 27.7% from a year ago.
(All data was released the week of 05/11/2026)
(All monthly statistics are seasonally adjusted unless stated otherwise).
If you have questions about the markets or your financial plan, we’re always here to help.
Loren Rex – Emeritus
Erik A Smith, AIF® – President & C.E.O.
Nicholas Acri, CFP® – Partner & Wealth Advisor
Dylan Thomas, CFP® – Partner & Wealth Advisor
Jack Zeeb – Wealth Advisor
These are the opinions of Loren Rex and Erik Smith and are not necessarily those of Cambridge, are for informational purposes only, and should not be construed or acted upon as individualized investment advice. The Indices mentioned are unmanaged and cannot be invested into directly. The Dow Jones Industrial Average, Dow Jones, or simply the Dow, is a stock market index of 30 prominent companies listed on stock exchanges in the United States. The DJIA is one of the oldest and most commonly followed equity indexes. The Nasdaq Composite is a stock market index that includes almost all stocks listed on the Nasdaq stock exchange (more than 2500 stocks).
Sources:
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCRFPUS2&f=W
https://ir.eia.gov/ngs/ngs.html
https://www.freddiemac.com/pmms
https://www.wsj.com/market-data?mod=nav_top_subsection
https://bakerhughesrigcount.gcs-web.com/na-rig-count
https://www.census.gov/economic-indicators
https://www.bls.gov/news.release/cpi.nr0.htm#cpi_pressa.f.1
