• The median performance for the S&P 500 in May is a 1.0% gain, with positive returns occurring 60% of the time since 1945.
• The average annual spending on healthcare increases as Americans age.The youngest cohort of individuals aged 25-34 spend $3,404 per year on healthcare compared to an average cost of $7,030 per year for the cohort of Americans over age 65.
• Microsoft, Apple, Google, Amazon, and Facebook are the top 5 stocks in the S&P 500, accounting for over 18% of its value. The average lifespan of companies in the S&P 500 has decreased from around 60 years in the 1960s to approximately 20 years today due to mergers, disruption, and bankruptcies.
• Amid struggles in the U.S. banking system, 48% of Americans have concerns about the safety of their money. For comparison, during the 2008 financial crisis 45% of U.S. adults said they were very worried about the safety of their money.

MFS - "Beyond the News"

A Wealth of Common Sense- "5 Companies Make Up 18% of the S&P 500. Should Investors Care?"

Gallup- "About Half in U.S. Worry About Their Money's Safety in Banks"

Economic Calendar

Monday:

Wholesale inventories (Mar), Chicago Fed President Goolsbee television interview, Fed Senior Loan Survey (Q1)

Tuesday:

Fed Gov. Philip Jefferson speaks, New York Fed President Williams speaks

Wednesday:

Consumer price index (Apr), Core CPI (Apr), CPI year over year (Apr), Core CPI year over year (Apr)

Thursday:

Producer price index (Apr), Core PPI (Apr), PPI year over year (Apr), Core PPI year over year (Apr), Initial jobless claims (May), Continuing jobless claims (Apr), Fed Gov. Christopher Waller speaks

Friday:

Import price index (Apr), Import price index minus fuel (Apr), Consumer sentiment (preliminary) (May), St. Louis Fed President Bullard and Fed Gov. Jefferson on panel on outlook for economy and monetary policy

Upcoming Earnings Calls

Monday - PYPL, MCK, ITUB, KKR, SU

Tuesday - DUK, ABNB, APD, OXY, TDG

Wednesday - TM, DIS, TAK, MFC, NTR

Thursday- JD, BN, SLF, TEF, ELP

Friday - SMFG, HMC, MFG, SPB, EMBC