Week of May 5, 2025
The Standard & Poor’s 500 Index is within single digits of its all-time high. As highlighted in the May 3, 2025 CNBC headline, “Buffett downplays recent market volatility as ‘really nothing,’ saying it’s part of investing”—we wholeheartedly agree. What we refer to as the “Trump func” served as the catalyst for recent volatility; however, the long-term outlook remains positive as the U.S. government begins to address structural fiscal challenges. Our Signals remain unchanged.
Bob Bilkie, CFA
