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MARKET RECAP*

  • Stocks rallied in May, posting its best month since January and best May since 2009
  • The S&P 500 finished the month with a positive 2.4% return
    • Top Sectors: Technology (+7.4%), Energy (+3.0%), Industrials (+3.0%)
    • Bottom Sectors: Telecom (-2.5%), Consumer Staples (-1.9%), Utilities (-1.8%)
  • Large Cap Growth beat Large Cap Value in May by a modest margin
    • Growth continues to lead Value by 4.3% this year
  • Small Cap stocks gained 6.1% on the month, outperforming both large and mid-cap stocks
  • International Developed countries underperformed U.S. stocks by 3.0% on the month
  • Emerging Markets declined 2.2% on the month as the dollar continues to strengthen
  • Long-Term Treasury yields trended slightly lower on the month as volatility further subsides
    • The ten-year Treasury yield ended the month at 2.83% after breaking through the 3% level for a 2-week period in May

ECONOMIC NEWS**

  • The economy created 223,000 jobs in May, coming in well above expectations of 190,000
    • This brings the consecutive number of monthly job gains to 92, the longest on record for the U.S.
  • Core inflation rose to 2.1% in May, continuing its rise over the course of the year
    • Fed officials have continued to raise interest rates this year as core inflation rises
  • The unemployment rate fell from 3.9% in April to 3.8% in May, matching April 2000 as the lowest reading since the 1960s

 

*Merrill Lynch**Bloomberg. Charts are shown for illustrative purposes only. Respective services provided by ARGI Investment Services, LLC, a Registered Investment Adviser, ARGI CPAs and Advisors, PLLC, ARGI Business Services, LLC, and Advisor Insurance Solutions. All are affiliates of ARGI Financial Group.