US equity performance was a mixed bag this past week with the information technology sector surging 3.2%, while all other sectors ended about even or down for the week, with the worst performer being the telecommunications sector that lost 4.6%.

Despite continued solid corporate earnings results and first quarter GDP growth in excess of expectations at 2.3% year-over-year, U.S. equities ended last week slightly below even.

The US equity market ended last week on a downward trend following a midweek surge in prices.

The escalating trade conflict with China has changed the market dynamic and complicated what is already a difficult task for the Federal Reserve in seeking rate normalization.

Market turbulence continued this past week with the Dow Jones and S&P 500 each ending the shortened week up over 2%, just to cede the majority of those gains in Monday’s trading with losses of 1.9% and 2.2%, respectively.