Dear Copytraders,
US stocks: May remained resilient despite macro uncertainty. The S&P 500 traded near record highs around 7,500+, while the Nasdaq continued to benefit from AI-driven momentum. Q1 earnings season surprised positively, with roughly 80%+ of companies beating expectations. However, market leadership remains concentrated in large-cap tech.
Inflation & policy: US CPI remained elevated around 3.8% YoY, while Core PCE stayed above 3%, keeping pressure on the Fed. Interest rates remain at 4.25–4.50%, and markets have significantly reduced expectations for near-term cuts. Treasury yields remain elevated, reinforcing the "higher for longer" narrative.
Global markets: Energy and geopolitics dominated headlines. Oil briefly traded above $100/barrel amid Middle East tensions before pulling back toward the low-$90s. Gold remained historically strong as investors continued seeking protection from inflation and geopolitical risks.
Italy & Europe: Inflation accelerated across the Eurozone. Italy's HICP rose to 3.3% YoY in May (from 2.8% in April), while Eurozone inflation is expected around 3.3%, driven largely by higher energy costs. The ECB kept rates unchanged but markets are increasingly discussing the possibility of further tightening if inflation remains persistent. Growth across Europe remains weak, with Italy, Germany, and France facing slowing economic momentum.
I remain constructive on quality growth and technology, but elevated inflation and energy driven volatility require disciplined risk management. Maintaining diversification across equities, commodities, and defensive assets remains essential in this environment.
Stay focused, stay profitable!
#LongTermIsTheKey... Show More
Not investment advice. The author may have financial interests in the mentioned instruments.
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