Weekly Market Bullets

for the week ending 6/5/2026

• After 9 consecutive weeks of gains, US Equity Markets saw profit-taking last week, particularly among technology stocks, as strong economic data raised questions about whether the Fed may need to hike rates. The S&P 500 fell 2.6% for the week and is now up 7.9% for the year. The Nasdaq tumbled 4.7% for the week to bring its gains for the year to 10.6%, while the Russell 2000 (small cap stocks) was down 2.9% for the week and is now up 14.2% for the year.

• Global Equity Markets fared better than US markets last week, as global investors were less concerned about interest rate hikes overseas. Developed Markets were down 0.4% for the week and are now up 7.4% for the year. Emerging Markets rose 0.4% for the week to bring their gains for the year to 25.3%.

• Employment Data came in strong for May, pushing rates higher. Payroll gains for May totaled 172K, roughly double expectations, while gains for April were revised meaningfully higher to 179K. The Unemployment Rate held steady at 4.3%, while year-over-year wage gains rose 3.4% from a year ago, in line with expectations. As a result. the yield on the US 10-Year Treasury closed at 4.52% vs. 4.44% the prior week. Investors now believe the Fed will have to hike rates one time for the balance of the year.

• History may suggest healthy returns going forward following 9 consecutive weeks of gains. The last time the S&P 500 increased for 9 consecutive weeks was in late 2023, ending on December 29, 2023. Following that period, the S&P 500 was up over 14% over the next 6 months and up over 25% over the next year. While one historical example is not a forecast, it is a useful reminder that strong momentum does not automatically mean the rally is exhausted despite the pullback last week.

Market Data

for the week ending 6/5/2026