The stock market may be ending the month a littler weaker, but we saw new all-time highs earlier this month and plenty of strength from earnings data. Nvidia was a headline in May. The earnings data came out extremely strong, up 262% YTD. Some of this may have been priced in, but I don't think anyone anticipated that great of an increase. Nvidia also announced a stock split headed our way.
The Dow made new all-time highs, trading above 40,000 for the first time, but we have seen a pullback the last few days. The S & P has also been strong, but retreated this week. I think the Fed's language will dictate what kind of market Q2 ends with.
Salesforce has been one stock not performing well after their earnings. Cloud companies are being impacted by the AI boom. Dell is also a stock to monitor as it is intertwined with AI.
Commodities have been performing well, especially the softs. OJ has been the Nvidia of futures for now after cocoa pulled back. I think we will see more of the same patterns in June as we get closer to mid-year where the Fed may actually be forced to make a move before our looming election.
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