Volatility Grasps S&P 500 at End of Best May Since 1990 – US Market Wrap

Stocks were volatile in the final stretch of the month, with the market rebounding from lows as Trump stated he expected to speak with Xi after accusing China of breaching a trade agreement.

The S&P 500 virtually reversed a 1.2% decline, posting its strongest May since 1990. Bond action was subdued, but Treasuries were on track for their first monthly decline of the year. The dollar scarcely moved, marking the sixth consecutive month of falls – the longest slide since 2020.

OPEC+ may discuss an oil output hike larger than 411,000 BPD for July at a meeting on Saturday – Sources. Oil weakened.

EIA: US crude oil output rose to a record high in March.