The average S&P 500 return for May is less than 1%, but the six months after May is the problem period with the data to back it up.
Hawks cited inflation pressures again despite corporate earnings maintaining a steady drumbeat of beats and optimism, but there was also rare dissent among Federal reserve members.
The rising activity of cashed-up vaccinated Americans are certainly encouraging some prices to rise with supply chain production hiccups, but Inflation Scares have been incorrectly rolled out for many decades.
Other popular metrics include the ratio of part-time versus full-time positions offered in employment ads, flight bookings made up by businesses, number of per-day passengers through TSA checkpoints all the way to restaurant booking numbers.
The rally has priced in a helluva lot, so it’s not hard to fail at the finish line, with Microsoft a prime example.
Likewise, Europes’ STOXX 600 index dropped 0.3% as first-quarter numbers revealed a technical recession due to a weak March quarter as GDP declined 0.6% compared with the previous period.
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