The S&P 500 edged lower this week amid mixed signals from trade negotiations and a more hawkish Fed, despite U.S. large caps exceeding Q1 earnings expectations. Interest rates rose slightly as the Fed ruled out preemptive cuts, and the 10-year Treasury yield ended at 4.36%. In commodities, crude oil prices recovered above $60/barrel on trade deal hopes, while gold prices saw slight increases due to trade war sentiment. Economic data softened but did not indicate a recession, with jobless claims falling to 228,000 but continued claims suggesting job finding remains challenging.

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