Weekly Market Commentary (5/1) | Powell's Farewell, Core PCE Heats Up & AI CapEx Surges

In this week's Main Management Weekly Market Commentary, Alex Varner (Head of Research) and James Maxwell (SVP of Research) unpack a Fed meeting marked by historic dissent, hotter inflation readings, and a clear acceleration in AI-driven capital spending – set against a backdrop of solid Q1 GDP and a still-stuck housing market.

Key highlights from this episode include:

· FOMC holds, four dissenters – the most since 1992.
· Core PCE accelerates to 3.2% year-over-year.
· Q1 GDP rebounds to 2%.
· AI CapEx shows up in the hard numbers.
· Earnings doing the heavy lifting.

· Looking ahead: Friday's non-farm payrolls headlines a busy data week, with JOLTS, new home sales, Q1 productivity, and the UMich preliminary sentiment reading – which printed at a record low last month – also in focus.

Click here to read this week's full Weekly Market Note: https://www.mainmgt.com/wp/wp-content/uploads/2026/05/Main-Management-Weekly-Market-Note-5-1-26.pdf

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