Investment Review - June 2026
- All three major averages rallied during the month of May. The S&P 500 rose to yet another record high, powered by the AI boom in infrastructure spending. The Nasdaq outperformed, recording an advance of more than 8% for the month. The S&P 500 finished up 5%, while the Dow posted an almost 3% climb.
- Earnings growth for the S&P 500 was much stronger than anticipated in the first quarter and has led analysts to raise their estimates for the calendar year. Analysts currently expect revenues to rise 10.3% in 2026, and another 7.7% in 2027, compared to a 6.9% gain in 2025. They expect earnings growth of more than 23% in 2026 and 15% in 2027.
Key Investment Statistics
Sources: U.S. Department of Commerce, U.S. Department of Labor, U.S. Bureau of Economic Analysis, U.S. Federal Reserve, Yardeni Research, CME Group’s FedWatch, University of Michigan’s Consumer Sentiment Index
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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