My colleague Sam Millette, manager, fixed income on Commonwealth’s Investment Management and Research team, has helped me put together this month’s Market Risk Update. Thanks for the assist, Sam!
Markets sold off in early and mid May due to concerns of slowing economic growth before a late-month rally brought them close to even. The month-end rally led to mixed results for the three major U.S. equity indices. The S&P 500 gained 0.18 percent while the Dow Jones Industrial Average managed to notch a 0.33 percent return. The Nasdaq Composite was unable to rebound to positive territory by the end of the month, with the technology-heavy index down 1.93 percent in May. The market turbulence during the month was a reminder that risks remain for markets, and they should be closely monitored.