- U.S. stock indices rallied in May, based on upbeat economic news and corporate profit growth. The Dow Jones Industrial Average gained 1.0%, the S&P 500 was up 2.2%, and the Nasdaq Composite gained 5.4%. International equity markets were higher. The MSCI Europe Australia Far East Index (EAFE) gained 0.7% and the MSCI Emerging Markets Index lost 2.8%.
- U.S. trade policy and its implications for global growth remains a focus and a risk for investors. The Trump administration’s announcement of tariffs on steel and aluminum imports from Canada, Mexico and the European Union have weighed on stocks in export–dependent countries. Risks to the markets include a policy error by the Federal Reserve, a global trade war, an economic slowdown in China and a military engagement.
Disclosure: This commentary reflects the opinions of Welch & Forbes based on information that we believe to be reliable. It is intended for informational purposes only, and not to suggest any specific performance or results, nor should it be considered investment, financial, tax or other professional advice. It is not an offer or solicitation.
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