Happy Sunday, and welcome to Benzinga’s financial advisor newsletter.

Today we're discussing caregiving. Financial strain is widespread among caregivers, with 95% worried about retirement and 51% cutting personal spending. Caregiving impacts careers and health, with 25% leaving jobs and 66% struggling to care for themselves.

Plus, a look back at the last week of market activity.

Table of Contents

• Industry Chatter

• Weekly Market Recap

• The Week Ahead

INDUSTRY CHATTER

How Caregiving Is Reshaping Retirement and Spending Habits

Caregiving is a growing reality for many Americans, with financial, emotional, and professional impacts that are often long-lasting. As more adults take on the responsibility of caring for loved ones, new data reveals the scale of the challenges they face.

A recent report from Edward Jones, in partnership with Morning Consult and Age Wave, surveyed 3,100 U.S. adults and found that 40% currently identify as family caregivers. Nearly half of Americans (46%) are expected to become caregivers in the future.

The study found that 56% of caregivers cite rising costs and inflation as top financial concerns, and 95% have at least some level of concern about saving enough for retirement. Over half (51%) say they’ve had to cut back on personal spending due to caregiving responsibilities.

The emotional impact of caregiving is also notable. According to the report, 89% of caregivers view their role as emotionally significant, with 83% reporting stress and 77% experiencing burnout. Two-thirds say it’s difficult to prioritize their own health while managing care for others.

Career impacts are also widespread. One in four caregivers (25%) have left the workforce, while 24% have reduced their hours. Some have taken on debt (22%) or drawn from retirement savings (16%) to cover caregiving costs. Despite these pressures, many caregivers report positive outcomes: 80% say caregiving has strengthened their relationships, and over 80% report feelings of fulfillment and appreciation.

The report notes that 57% of caregivers have not sought professional financial advice, but among those who have, 93% say it increased their confidence about the future. The majority of Americans—across political lines—support public policies to assist caregivers, including expanded retirement savings options and workplace benefits such as financial support or flexible schedules.

With caregiving needs expected to rise, the report highlights increasing demand for support systems, financial planning resources, and policy changes to better address the needs of caregivers across the country.

WEEKLY MARKET RECAP

Trump's Tariff Fireworks Resume, Treasury Yields Top 5% As Fiscal Concerns Grow

Markets were rocked this week by mounting tensions in the U.S. Treasury market after Moody's downgraded the nation’s credit rating, stripping it of its top-tier status.

Investor sentiment weakened further midweek when a 20-year Treasury auction revealed soft demand, fueling concerns about future government borrowing needs.

This sparked a sell-off in long-term bonds, sending the 30-year Treasury yield as high as 5.15%, before easing back toward 5% by Friday.

Adding to fiscal concerns, President Donald Trump, alongside Defense Secretary Pete Hegseth, announced a $175 billion initiative dubbed the "Golden Dome," a multi-layered missile defense project intended to shield the U.S. from foreign military threats, including hypersonic and ballistic missiles.

On the political front, the House of Representatives passed what Trump called the "One, Big, Beautiful Bill" — a sweeping tax and spending package. According to the Congressional Budget Office, the bill could increase the federal budget deficit by $3 trillion to $4 trillion over the next decade.

Trade tensions flared anew on Friday. Trump took to Truth Social to threaten Apple Inc. with 25% tariffs if it doesn't move production back to the U.S.

Later, he announced 50% tariffs on goods from the European Union, effective June 1, as talks between Washington and Brussels cooled.

The move marks the sharpest escalation in transatlantic trade relations in years. In 2024, U.S. imports from the EU reached $687 billion, with a record goods trade deficit of $236 billion. In March 2025 alone, the U.S. imported $91.9 billion from the bloc, racking up a $47 billion monthly deficit, as firms accelerated shipments ahead of the tariffs.

On the economic front, May's Purchasing Managers' Index surveys delivered a mixed signal. Activity in both services and manufacturing sectors grew faster than expected, indicating underlying strength. However, the data also showed the sharpest rise in input prices in nearly three years, stoking inflationary fears.

With stocks, the U.S. dollar and Treasuries all losing ground this week, investors sought protection against government instability and risks of currency debasement.

Gold prices — as tracked by the SPDR Gold Trust — jumped more than 4% over the week, recovering all of last week’s losses and inching back toward record territory. Meanwhile, Bitcoin exploded past the $111,000 mark for the first time in history.

THE WEEK AHEAD

NVIDIA, Costco and Salesforce report earnings, US consumer confidence, initial jobless claims, and more

Economic Data

• Monday: US Memorial Day holiday and UK bank holiday

• Tuesday: US consumer confidence and durable-goods orders

• Wednesday: US Fed's May FOMC meeting minutes

• Thursday: US initial jobless claims, GDP and pending home sales

• Friday: US core PCE and Chicago PMI, German CPI

Earnings

• Monday: Woodside Energy Group (WDS), Hesai Group (HSAI)

• Tuesday: PDD Holdings (PDD), AutoZone (AZO)

• Wednesday: NVIDIA (NVDA), Salesforce (CRM), HP (HPQ)

• Thursday: Costco (COST), Dell Technologies (DELL), Ulta Beauty (ULTA)

• Friday: UP Fintech (TIGR), Shoe Carnival (SCVL)

Click here for the full calendar of economic data and earnings reports.

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