Week Ending May 31, 2026
Tech Leadership Drives S&P 500 to New Highs as VIX Stays Subdued
At a Glance
S&P 500
0
+1.8%
TSX Composite
0
+0.9%
NASDAQ
0
+2.4%
Russell 2000
0
+0.3%
VIX
0.0
-1.2pts
Sectors: risk-on
Style: growth
Hedging: underweight
Key Takeaways
Sectors: Technology and communication services led gains with AI momentum driving mega-cap outperformance while defensive sectors lagged.
Style: Growth significantly outpaced value as earnings momentum accelerated in tech-heavy indices, expanding the growth premium to 18x vs 12x P/E.
Hedging: VIX decline to 15.74 signals low volatility regime with institutional rotation away from protection strategies toward risk assets.
Previous Issues
View all →May 24, 2026
Tech Rally Lifts Markets as AI Earnings Impress, VIX Stays Calm
May 17, 2026
Tech Rally Propels Markets Despite Rising Bond Yields
May 10, 2026
Tech Earnings Drive Market Gains as Fed Pause Bolsters Risk Assets
May 3, 2026
Tech Rally Drives Markets Higher Despite Defensive Rotation Signals