May 2026 Sector Allocation Update

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Market Recap

The stock market rose sharply in April to close the month at all-time highs, mounting a V-shaped rally after the March declines largely caused by the beginning of the Iran conflict. As it turns out, markets bottomed on March 30, consistent with the stock-market timing trends seen in previous major U.S. conflicts. For April, the S&P 500 rose 10.4%, while the Nasdaq Composite rose 15.3%.

That s...

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