All Three Major Indices Close May at Record Highs Despite rising global yields and renewed inflation concerns, equities moved higher in May on the back of a strong US earnings season and continued momentum in AI-related stocks. The tech-heavy Nasdaq Composite gained 8.4% for the month, while the S&P 500 rose 5.3% and the Dow Jones Industrial Average was up 2.9% All three indices closed the month at record highs. The S&P 500 also saw its best two-month gain since May 2020, cli

Investors and market pundits have been arguing that today’s market is similar to the late 1990s. Investors see a handful of dominant technology stocks surging higher, artificial intelligence driving euphoric sentiment, and comparisons to the 1996-1999 dot-com melt-up becoming increasingly common. On the surface, the analogy makes sense. A few select stocks are leading the market, valuations are expanding, retail enthusiasm is back, and investors once again believe techno