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Investment Insights

Summit Snapshot: Week of 5.16.2022

May 16, 2022
  • U.S. equities had another challenging week despite the rally last Friday. The S&P 500 Index finished the period off another 2.4%, bringing the year-to-date decline to over 15%. This was the benchmark’s sixth consecutive weekly decline.
  • Selling reflected increasing skepticism at the Federal Reserve’s (Fed) ability to execute a soft landing whereby they can tame inflation while not stifling growth.
  • The Cboe Volatility Index (VIX) remained elevated and didn’t reach its recent high from earlier in May.
  • Within the S&P 500 Index, more defensive portions of the market, such as consumer staples and healthcare, were relative outperformers. Cyclical and higher growth areas of the market generally lagged.
  • Nearly all segments of the market fell but growth shares lagged value stocks (except in small-caps) and small-caps underperformed large-caps (except in growth).
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Summit Financial, LLC, an SEC registered investment advisor firm, established in November 2018 is a wholly owned subsidiary of Summit Financial Holdings and is the successor firm of all the legacy investment advisory and financial planning business of Summit Equities, Inc. (registered with the SEC in 1991) and Summit Financial Resources, Inc. (registered with the SEC in 1983)