May 2021 Market RecapBy Clint Edgington
Posted on June 8th, 2021
General market trends continued to hold in May as data pointed to a strong economy, with the US Purchasing Managers’ Indices for both manufacturing and services rising to their highest levels on record. That, coupled with potential of large infrastructure spending and the Fed’s release of notes from an April meeting indicated that discussions had started about tapering some of the monetary stimulus; however, that talk was walked back by Chairman Jerome Powell.
Consistent with both themes: Value stocks trounced Growth stocks and positive returns were enjoyed for assets generally thought to be a hedge against inflation; those being real estate and commodities.