Monthly Market UpdateSubmitted by TLWM Financial on June 6th, 2023
May was another fairly steady month for stocks with some volatility to close out the month as investors watched the ongoing debt ceiling negotiations carefully. The S&P 500 closed the month slightly higher, and is now up about 9% year to date. (YCharts)
Investors have had a number of headwinds to contend with this year including recession risk, hawkish monetary policy, and the risk of a US debt default (debt ceiling). Despite these factors, we’ve seen markets rally about 16.5% over the last 8 months (since Oct 1st).