The S&P 500 (Index: INX) saw some major intraday swings during the first week of May 2018, with the combination of Thursday, 3 May 2018 and Friday 4 May 2018 combining to take the index on the wildest ride of the week.

Tracking each day’s closing value of the S&P 500, what we find is that the level of the S&P 500 is consistent with investors continuing to split their attention between the current quarter of 2018-Q2 and the more distant future quarter of 2019-Q1, although slightly favoring the current quarter during Week 1 of May 2018.

That makes a lot of sense in the context of the news of the past week, where we’re nearing the end of earnings reporting season taking place during 2018-Q2, so investors are continuing to keep a good portion of their forward-looking attention on the current quarter. Here are the market-moving headlines from the week that was…

Monday, 30 April 2018

  • Oil gains after Netanyahu says Iran lied after signing nuclear deal
  • Wall Street slides as healthcare drags but manages monthly gain

    • Tuesday, 1 May 2018

  • Oil prices stumble, but Iran sanction fears limit losses
  • Fed likely to keep rates steady; investors bet on June hike
  • Wall Street rises on optimism on NAFTA deal and China trade

    • Wednesday, 2 May 2018

  • Oil gains slightly after Fed sees economy growing at a ‘moderate rate’
  • Fed leaves interest rates unchanged, says inflation near goal
  • Wall Street loses gains from Fed decision on China trade worries

    • Key sticking points in the U.S.-China trade dispute

    • Thursday, 3 May 2018

  • Oil up on OPEC output cuts, worries about Iran sanctions

    • Boom in West Texas oil patch lifts wages, prices
  • Trade Wars:
    • China to suspend checks on U.S. scrap metal shipments, halting imports
    • U.S. asks China to reduce trade imbalance immediately: WSJ reporter on Twitter
    • China offers to increase U.S. imports, cut tariffs on some products: sources
    • U.S., China commit to solve trade dispute through dialogue: Xinhua
  • S&P drops as weak earnings offset strong economic data
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