A Quiet End to the Month
Week Ending 6/1/2025
S&P 500 Overview
The S&P 500 (SPY) continues trading sideways around the October 2024 high, causing year-to-date performance to be flat. This provides a quiet end to May after a significant gap at the beginning of the month.
We see this performance mirrored in the equal-weight S&P 500 (RSP).
Reviewing factors, momentum still holds a strong lead.
The index is usually quieter in the summer; it will be interesting to see if that holds this summer.
Sector Overview
This week, Energy (XLE) was the only sector to decline, with Real Estate (XLRE) showing the best performance. Utilities (XLU) and Industrials (XLI) are the top-performing sectors year-to-date.
Breadth shows strength in XLI, XLU, Communications (XLC), and Financials (XLF). XLE shows weakness, reflecting its poor performance this week. It is also worth noting that we see stronger breadth in the S&P 100 and S&P 500 Growth indexes than in the other S&P indexes.
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