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Premia Global Advisors, LLC

Market Month May 2024

The Markets (as of market close May 31, 2024)

Stocks rebounded from a sour April, closing higher in May. Investors spent the month focused on job gains, gross domestic product, corporate earnings reports, and inflation data in an attempt to determine when the Federal Reserve might cut interest rates. Each of the benchmark indexes listed here reversed the prior month’s losses with notable gains in May. The tech-heavy Nasdaq led the way, followed by the Russell 2000, the S&P 500, the Global Dow, and the Dow. Consumer confidence (see below) exceeded expectations in May, outpacing April’s reading. The labor market showed signs of slowing (see below), while wages inched lower since April 2023.

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Premia Global Advisors LLC (“Premia”) is a U.S. Securities and Exchange Commission (“SEC”) registered investment advisor located in Coral Gables, Florida. Registration as an investment advisor does not imply any level of skill or training. A copy of Premia’s Form ADV Part 2A Brochure which includes a description of Premia’s services, fees and business practices is filed with the SEC and available by contacting us, or at the SEC’s website(www.adviserinfo.sec.gov).  Premia and Broadridge are unaffiliated companies. 

These materials are not intended to be an advertisement or research and may not be distributed in states where Premia is not registered, or countries or jurisdictions where not permitted by law. Any discussion of investment strategies, products, or services is for information purposes only and should not be deemed to constitute the provision of investment advice, or a recommendation, or offer to purchase, or sell securities or pursue any investment strategy. These materials do not purport to contain all the relevant information that investors may wish to consider in making investment decisions and are not intended to be a substitute for exercising independent judgment. We recommend that investors independently evaluate the appropriateness of a particular investment or strategy and consult with an attorney, or tax professional regarding their specific legal or tax situation. Premia does not offer tax or legal advice. No representations are made that investors will be able to avoid loss, or achieve a certain level of performance. Investment results will fluctuate and may be highly volatile, particularly over the short term. Diversification does not protect against loss. Our views are subject to change at any time without an obligation to provide an update. 

Although the information distributed is based on sources believed to be reliable. We do not warrant its completeness accuracy.

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    Latest News

    The Markets (as of market close June 21, 2024) Wall Street rode a rally in tech and Al stocks for most of last week. The end of the week saw a bit of a downturn, but not enough to keep the benchmark indexes listed here from closing the week higher.

    The Markets (as of market close May 31, 2024) Stocks rebounded from a sour April, closing higher in May. Investors spent the month focused on job gains, gross domestic product, corporate earnings reports, and inflation data in an attempt to determine when the Federal Reserve might cut interest rates.

    In April, stock markets fell amid global tensions and inflation concerns, despite positive job growth and corporate earnings, with some sectors like real estate and technology seeing significant declines, while bond yields rose and the dollar strengthened, and gold prices increased.

    Stocks rose last week, led by tech and communication sectors, supported by positive earnings and economic data, despite concerns about rising interest rates and fluctuating commodity prices. Learn more about it in this week’s market summary.

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