Stocks were mixed in May as a powerful rally
in the final week of trading helped recoup losses
from earlier in the month.
The Dow Industrials and the S&P 500 notched slight gains,
while the tech heavy Nasdaq fell slightly more than 2 percent. The month
began strong, but the rally lost momentum
as investors digested the Fed's commitment
to raising short-term rates. Over the month,
inflation concerns gave way to economic growth worries.
But the fears eased a bit with reports
from some discount retailers that suggested
the consumer remained healthy.
In the final week of trading, stocks
rallied as investors started to believe
that the Fed was on target with its plan for rates.
Sentiment also improved when Fed officials suggested
that rate increases might pause after the expected June and July
hikes. In the month ahead,
attention may turn to the U.S. dollar,
strengthening against other currencies
for most of the year.
The dollar's value is closely watched because roughly 40 percent
of earnings from S&P 500 companies
come from overseas sales.
A strong dollar helps U.S. shoppers buy imported products
at lower prices. But it also makes American exports
more expensive to overseas customers,
which may show up in second half company results.
This month it's time to grab your favorite board
and hang 10 for National Surfing Day. On Saturday, June 18th,
surfers and oceanic aficionados will come together
to celebrate the waves and beaches they love.
This year's theme is "The Beach Belongs to Everyone."
For decades, conservation groups have
worked to keep the nation's beaches
accessible and welcoming for all people
to enjoy—regardless of race, socioeconomic background,
ability, or gender identity.
If you're one of the many who enjoy a refreshing
dip in the ocean, head to the beach
and join the "swell" festivities.