Contemplating the positives and negatives of the U.S. economy brings up the famous Dickens’ opening line: It was the best of times; it was the worst of times.
We are now approaching the mid-point of what is proving to be a challenging year for most equity markets. With a month-end rally mitigating earlier losses, the S&P 500 Index (‘S&P 500’) fell 0.18% in May, putting the index down 12.76% year-to-date. The S&P 500 reached official “bear market” territory on May 20, finally falling 20% from its high price on January 3, 2022. Many other indices had actually reached bear status far earlier than the S&P 500.
Although it might not seem like it at the moment, there are some positive aspects to the current situation.
Our June 2022 Market Commentary provided by Peter W. Tuz, CFA, CFP®, President & Director, Portfolio Manager, Chase Investment Counsel.