The S&P 500 Just Had Its Best Month Since 2020. Don’t Let ‘Sell in May’ Spook You.

AI summary

There was a lot that could have made the stock market fall. Investors shrugged off questions about when—or even if—the Federal Reserve would cut interest rates again this year after the central bank held rates steady, and it ignored the fact that Jerome Powell plans to stay on the Fed’s Board of Governors even as Kevin Warsh prepares to become chair. Inflation came in hot as oil prices continued to rise, and earnings from Microsoft and Meta Platforms revealed sizable capital spending increases—a