Patio season is ramping up, will the market follow suit?
May was an interesting month filled with mixed results across all sectors and markets. The likelihood of a June rate hike now seems like a weak possibility, but an upcoming future rate hike is seems inevitable after stronger US economic data which led to a strong rally in the US technology sector and a drop in this year’s darling sector, precious metals. Overall, the global markets have improved this past month despite weaker overseas manufacturing numbers from China, UK and France that sent international stocks down while Britain’s debate over exiting the European Union created further uncertainty. The million dollar question going into the summer months in the US, is if the price momentum continues and take us to new highs or is another correction coming? Canada has a similar question, but oil is our main catalyst.