Market Monitor

Global equities reached new highs driven by AI enthusiasm and a potential Middle East ceasefire, while the S&P 500 target was upgraded to 8,000 on strong earnings. However, fixed income markets face uncertainty as hawkish inflation data and Fed commentary suggest rate hikes could return to the table.

Key Takeaways

• 1.GIR raised the year-end S&P 500 target to 8,000, supported by robust Q1 earnings growth of 26% and expectations for AI-driven capex.
• 2.The Fed's policy outlook has shifted toward a hawkish bias, with market pricing now suggesting rate hikes are a possibility before year-end due to persistent inflation signals.
• 3.Commodities, particularly oil, saw significant declines in May as geopolitical tensions in the Middle East showed signs of potential de-escalation via a 60-day ceasefire extension.

Table of Contents

• Equities
• SAS Market Strategy
• Market Summary
• Economic Summary
• Fixed Income Insights
• Fundamental Equity Insights
• Market Watch
• Economic Watch
• Style Performance
• Weekly Market Recap
• IMPORTANT INFORMATION
• RISK CONSIDERATIONS
• GENERAL DISCLOSURES
• Index Benchmarks

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