First Trust

Market insights and commentary from First Trust.

United States5 articlesLast published 17 Jun 2026

Multi-AssetEquities

Research

Chair Warsh and a New Era for the Fed

First Trust's chief economist reviews the June 2026 FOMC meeting under new Chair Warsh, highlighting a shorter, forward-guidance-free policy statement, a significant upward revision to 2026 PCE inflation forecasts (to ~3.6%), and an evenly split dot plot on future rate hikes. The commentary also covers Warsh's announcement of five Fed task forces to reassess communications, balance sheet policy, data sourcing, productivity, and inflation frameworks from first principles.

17 Jun 2026

First TrustMulti-Asset

Retail Sales Rose 0.9 % in May

US retail sales beat consensus in May, rising 0.9% on the month and 6.9% year-over-year, led by gasoline stations, nonstore retailers, and autos. In inflation-adjusted terms the gain was a more modest 0.4%, and a low personal saving rate of 2.6% in April signals limited consumer buffer for sustaining spending growth.

17 Jun 2026

First TrustMulti-Asset

Housing Starts Declined 15.4% in May

U.S. housing starts fell 15.4% in May 2026 to a 1.177 million annual rate—well below consensus and the slowest pace since 2019 outside of COVID—driven primarily by a 40.2% plunge in multifamily starts, while single-family starts declined only 1.9%. FT Portfolios economists argue the drop is unlikely to signal a housing bust given chronic undersupply since 2007, but flag persistent headwinds including 6.6% mortgage rates, tariffs, labor shortages, and depressed builder sentiment (NAHB at 35).

16 Jun 2026

First TrustEquities

Market Observations - S&P 500 Index Sector Prices vs. All-Time Highs

First Trust's Chief Market Strategist reviews the S&P 500's sector-level distance from all-time highs as of June 12, 2026, noting that 10 of 11 sectors are within 10% of their records, with Real Estate the sole laggard after peaking in December 2021. The piece highlights a 4.5% post-peak pullback, narrowing market breadth, record Q1 2026 earnings growth of 28.6% YoY, and cautions long-term investors against reactive decision-making amid geopolitical and rate volatility.

16 Jun 2026

First TrustMulti-Asset

Industrial Production Increased 0.1% in May

FT Portfolios economists review the May 2026 US industrial production report, which showed a modest 0.1% gain—below the 0.3% consensus—driven by a 1.3% jump in mining while manufacturing stalled and nondurable goods declined. High-tech equipment production surged 1.8% in May and is up 12.6% year-over-year, with capacity utilization ticking up slightly to 76.2%.

15 Jun 2026