Tech-Driven May Rally Expands as AI Optimism Lifts Markets
TL;DR Summary
Tech-led May rally pushed the S&P 500 up about 5% and the Nasdaq-100 up over 10%, led by hardware and memory names, with gains broadening to SMID caps and international markets such as Korea and Taiwan; inflation sits near 3.8% but is expected to ease toward 2–2.5% by next year, while the Fed remains hawkish with potential year-end rate hikes, supporting further upside as earnings growth and stable multiples back a stronger summer.
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