It’s not just tech stocks: The broad-based strength of the market right now gives investors reason to stay the course May brought yet another month of stellar stock-market performance.
And there’s reason to believe the market is only getting healthier
Futures for the major U.S. stock-market indexes were trading higher on Monday, an hour before the opening bell. Dow futures YM00 were up 0.3%, S&P 500 futures ES00 were up 0.2% and Nasdaq futures NQ00 were up 0.1%. Most Read from MarketWatch The S&P 500 SPX rose roughly 5.2% in May, and ended the final trading day of the month with a fourth straight record close.
That’s on top of the 10.4% rally it saw in April, which means the index climbed 16.1% over the past two months — resulting in the largest two-month gain for the S&P 500 since May 2020, according to Dow Jones Market Data. There’s no doubt that the tech industry has been leading this rally to record highs, as investors pour more money into semiconductor stocks. The S&P 500’s information-technology sector XX:SP500.45 grew around 15.9% in May, far outpacing other sectors.