
May 2025 Market Commentary & Outlook
US stocks rallied over the course of the month, posting their strongest monthly gain in two years. Easing trade tensions and progress on de-escalating tariffs
The latest thoughts on investment strategy and the markets, plus tools and templates from Raffa’s portfolio management team to empower nonprofits and associations to make better informed investment decisions.

US stocks rallied over the course of the month, posting their strongest monthly gain in two years. Easing trade tensions and progress on de-escalating tariffs

In April, market volatility spiked as US stocks sharply pulled back in the wake of the administration’s “Liberation Day” tariff announcement to begin the month.

US stocks declined in March as the administration levied significant tariffs on many of the countries’ largest trading partners. The lack of clarity around the

February brought a flurry of activity and headlines for markets to digest, leading to a choppy month that saw US stocks rally to begin the

The new year is in full swing, kicking off with plenty of headlines and events that set the stage for an eventful year ahead. The

With 2024 coming to a close, US stocks capped another stellar year of performance, crossing several record highs along the way. For the fifth time

US stocks surged in November following a conclusive presidential election result with Republicans taking control of the White House and Congress. Policy intentions of the

A five-month streak of strong gains in the US stock market came to an end in October as stocks declined over the month. Mixed economic

A very strong third quarter came to a close in the wake of the Federal Reserve (Fed) lowering interest rates for the first time in

Overall, both stocks and bonds performed well in August and have performed well so far this year. As we head into the final month of