Financial Insights

KCM On Balance – June 2024

June is the official start of summer. For some that may mean sunny days at the beach or in the mountains. For others heat and humidity. But while every day may not be warm and sunny, most will be.

Markets work the same way. Each day or week or even year may be different, but the general direction and patterns remain fairly predictable. Short-term uncertainty tends to give way to longer-term clarity. While there are no guarantees in life, patient investors should expect to be rewarded for a sunny outlook and staying invested over the long-term.

Despite May’s average decline for the S&P 500, May saw a 5% rise, led by tech stocks boosted by Artificial Intelligence optimism. The DJ Industrial Average and NASDAQ grew 2.58% and 6.9%, respectively.

U.S. government bonds rallied on favorable inflation data, with yields declining and boosting confidence in a potential Federal Reserve rate cut. All sectors, except Energy, posted gains with IT leading. Crude oil prices fell, while copper hit historic highs.

For more details on the markets, see the May Market Commentary below.

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May 2024 Market Commentary

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