Markets showed resilience last week, with global equities rebounding strongly – driven by solid corporate earnings, easing trade tensions, and a better-than-expected U.S. jobs report. The labor market added 139,000 jobs in May, keeping the unemployment rate steady at 4.2%, which helped ease fears of a sharp economic slowdown. Despite downward revisions to prior months’ job gains and a dip in labor force participation, wage growth continued to outpace inflation. The S&P 500 and other major indexes posted gains, with small-cap stocks outperforming large caps. Volatility declined and oil prices surged. However, uncertainty remains around trade negotiations, fiscal policy debates, and the Federal Reserve’s next moves, with rate cuts not expected until September at the earliest. We are watching upcoming inflation data and Treasury auctions for further market direction.