monthly change: SPX500 +3.21%
SPX500 repeated its record-high on June for five consecutive times. The index finished the month at 4,297.50 USD and gained more than 14% year-to-date. The index also posted twenty new week highs from the year's fifty-two total.
The U.S. Senate had accepted President Biden's infrastructure plan, so the equities of the material and industrial sectors pushed up higher, followed by other stocks. Meanwhile, the investors' optimism about the index performance in the following quarters eased, as they realised that the excessive bullish trend could signal the market of its overbought status.
Bank of America did its calculations, stating that Biden's spending plan took the label of global fiscal and monetary stimulus over the last fifteen months to 30,5 trillion USD. This change means the U.S. inflation is now annualising 8%, compared to an average of 3% over the previous century.
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