Constructive Outlook, Stagflation Concerns Overblown

Evergrande, Interest Rate and Equity Prospects

China’s Market Volatility, Delta Variant, Modest Risk

Peaking Momentum, Continuing Solid Growth 

Cautiously Bullish Outlook Despite Fed Hawkish Surprise

Things Are Looking Brighter

For the month of May, stocks posted mixed results in a relatively volatile month of trading with the Dow and the S&P 500 gaining 1.9% and 0.6%, respectively, while tech-heavy Nasdaq, however, suffered a 1.5% loss.  Leadership in the S&P 500 has been cyclical in May with energy and financials being the top performing sectors, returning 5.8% and 4.8% respectively. Consumer discretionary and technology sectors both lost grounds, posting negative returns of -3.8% and -0.9% respectively.

Still Recovering but on Watch

Economic Recovery and Equity Rotation

Rising Yields Cap a Positive Month with Volatility

A Negative Month, Opportunistic Outlook