NOTICE: We will be changing the format of our Weekly Market Pulse. Going forward you will notice that our pulse will come earlier in the week and provide bullet points on what happened in the economy instead of a written summary. We hope you like the new format.

• The Dow Jones Industrial Average crossed the 15,000 mark for the first time on Friday.

• U.S payrolls expanded by 165,000 workers in April.

• The unemployment rate fell to 7.5%, the lowest rate since December 2008.

• Personal Income and Spending increased slightly by +0.2% in March.

• April ISM Manufacturing Index reported in at 50.7 and total vehicle sales came in at 14.88M.

• Pending home sales rose by 1.5% in March.

• Consumer confidence increased 6.2 points to 68.1 in April.

• In April the proxy for wage-based income fell 0.4% which is the steepest decline since October 2012.

• The European Central Bank cut its key rate to 0.5%

• For the week ending 5/03/13, the S&P 500 gained 2.03% closing at 1614.42. The MSCI EAFE Index gained 1.17% closing at 1749.86 and the MSCI EM Index rose 1.95% to end the week at 1042.26.