Last month , I pointed out that May returns had been especially strong the last 10 years, and 2025 didn’t disappoint. The S&P 500 posted its 2nd best May return since 1958, with a gain of 6.15%, only to be outdone by 1990’s return in May of 9.2%.
We are in the middle of a stretch that has been above average over the last 10 years, with June posting gains 8 of 10 times, and July finishing positive 10 of 10 times with the 2nd best monthly return average (3.35%).
It’s worth noting that the long-term average (since 1958) are not as favorable, with June and July finishing positive only 55% and 58% respectively. So take all this with caution.
All April economic data has now been reported, and the results were the best in 2025 so far, with 12 of the 20 important data points beating expectations (compared to 11 beats last month), with only 5 data points missing expectations (compared to 8 last month).