Summit Puri

U.S. stocks reached new all-time highs in May despite persistent inflation concerns and rising interest rates. In this month's market update, Summit Puri explores the impact of elevated bond yields, the Federal Reserve leadership transition, and what these developments mean for long-term investors.

April’s CPI report showed inflation climbing to 3.8%, the highest level since 2023, largely fueled by sharp increases in energy prices tied to Middle East oil disruptions. While core inflation remains more contained, elevated energy costs continue to create uncertainty for consumers, markets, and Federal Reserve policy decisions.

More than three years into the current bull market, investors continue to face uncertainty—from inflation concerns to AI-driven volatility. Yet history shows that disciplined, long-term investing and diversification remain the most reliable path forward, even as markets climb a persistent “wall of worry.”