Market Update | May 2026

Market Update | May 2026

On May 27, 2026, Phillip Neuhart and Blake Taylor provided this month's Market Update. For more information, visit https://www.firstcitizens.com/wealth/market-outlook/2026/making-sense-may-market-update Markets in May 2026 reflected a complex mix of geopolitical risk, inflation uncertainty, and shifting Federal Reserve expectations. War in the Middle East continued to disrupt global oil supply, which drove energy market volatility and reinforced concerns about inflation and interest rates. Despite headlines and softer housing and labor market data, the US economy remained on fairly solid footing. Against this backdrop, equity markets have shown notable resilience. Stocks are reaching new all-time highs, but this is not just a product of lofty sentiment. Instead, exceptional corporate earnings growth has propelled equities higher even as price-to-earnings multiples remain modestly lower than recent averages. At the same time, elevated bond yields are creating attractive opportunities for balanced portfolios. As we so often remind our clients, staying focused on long-term objectives is key. To better understand what this shifting rate environment means for your portfolio, connect with an advisor for personalized guidance.

In Brief: Inflation data | House prices | Geopolitical developments 05.26.26

Interest rates are moving higher, with long-term Treasury yields reaching multi-decade highs as markets reassess inflation and Federal Reserve policy. In this episode, we explore shifting expectations toward a more hawkish Fed, what to watch in the upcoming PCE inflation report, and how housing trends could influence the broader inflation outlook. We also touch on ongoing geopolitical risks and their implications for energy markets. Key topics: Inflation data, Fed policy outlook, housing prices, and global energy risks.

In Brief: Federal Reserve policy | Mega-cap tech earnings | Geopolitical developments 05.18.2026

Markets continue to climb, with equities reaching new highs alongside strong earnings growth—but rising inflation, higher interest rates, and energy risks are also in focus. In this episode, we cover the latest market momentum, what to watch in upcoming Federal Reserve communications, and the megacap tech earnings rally. We also highlight the importance of global oil flows and evolving geopolitical dynamics. Key topics: Fed policy, earnings trends, and geopolitical developments.

In Brief: Inflation data | Retail sales | Q1 earnings season results 05.11.2026

Blake Taylor, Market and Economic Research Analyst, covers what to watch in the week ahead. U.S. equities pushed to fresh all‑time highs last week, with the S&P 500 now more than 15% above its late‑March lows. This move reflects more than geopolitics, as corporate earnings results—particularly for mega‑cap technology—continue to outperform expectations. Fresh economic data comes out next week, with April CPI, PPI, and retail sales data arriving alongside the final stretch of a blockbuster Q1 earnings season. Episode highlights Equities at record highs: The S&P 500 continues to reset highs with strong Q1 corporate earnings and margin growth Inflation in focus: Headline CPI expected near 3.7–3.8% YoY, with energy prices remaining elevated PPI insight: Key signal on whether producers are absorbing higher input costs or passing them through the supply chain Retail sales watch: High gasoline prices likely boost nominal spending, so a closer look at core categories is necessary Earnings momentum: About 83% of S&P 500 companies have beaten expectations so far for Q1

In Brief: Job openings | Unemployment data | Fed commentary 05.01.2026

Blake Taylor, Market and Economic Research Analyst, discusses what to watch in the week ahead. U.S. equities hit new all-time highs alongside rising oil prices as markets focused on strong mega cap tech earnings, resilient growth, and an AI driven investment boom that supported solid Q1 GDP. We recap the Fed’s decision to hold rates steady amid rare dissents and preview key labor market data, explaining why slower job growth doesn’t necessarily point to recession—and what to watch this week. Key Topics • Stock market highs and oil prices • AI investment and economic growth • Federal Reserve policy and dissents • JOLTS, payrolls, and unemployment • Market risks and weekly catalysts