Top of the Morning: CIO Strategy Snapshot - What’s driving market performance?

Dan Cassidy· Host0:00

[on-hold music] Hi, everyone. Dan Cassidy here. Welcome back to Top of the Morning on the UBS Market Moves Podcast channel. It's the first of June and summer is just around the corner. US equities haven't waited for summer to heat up as the S&P five hundred just completed its ninth straight positive week. Yet this is also bringing concern that this rally is overdone and at risk of a pullback. So joining me on this Monday morning to discuss this market rally, its drivers and the investment outlook from here, glad to welcome back for the CIO strategy snapshot, Jason Draho, head of Asset Allocation for the Americas from the UBS Chief Investment Office. Jason, good morning. Glad to be back with you and thank you for dropping by to spend some time today with our listeners.

Jason Draho· Guest0:52

Morning, Dan. Happy Monday.

Dan Cassidy· Host0:53

So Jason, I just mentioned that the S&P five hundred has been up for nine straight weeks, but there's more to the recent market performance than that. So what would you point to that's noteworthy about this performance?

Jason Draho· Guest1:06

Uh, we'll just pick up on that, uh, comment about the S&P being up nine straight weeks. Uh, this is only the third time since nineteen ninety that's happened. So it's a pretty unusual stretch, but it tells you just like how sort of resilient and fast and rapid this rally has been. Uh, that continued last week. Uh, the S&P was up, you know, about one point four percent, but there's also signs of sort of broadening out of the rally. We saw some early cyclical