Market Update

Highlights include:

• In May, the S&P 500 Index rose 6%, experiencing its highest May performance in 35 years.
• Stocks rose steadily during the month, reflecting improved investor sentiment due to the tariff rollback that eased concerns about intensifying trade disputes.
• Information Technology was the top-performing sector, increasing almost 11%, followed by Communication Services’ robust return of nearly 10%. Stocks in the Consumer Discretionary and Industrials sectors also saw strong returns, up around 9% each.
• The only sector to decline in May was Health Care, as an uncertain regulatory environment and limited innovation weighed on its stocks.
• While the tariff landscape remains fluid with ongoing legal and trade negotiations, the U.S. economic data remains mostly positive.