) ended the last trading day of May by closing 575 points intraday. In the shortened trading week, the S&P 500 fell 1.10% in the last four days. Donald Trump's guilty verdict has spurred debate about its impact on the upcoming presidential election and the broader market. With April's PCE inflation data landing within expectations, conversations returns to higher-for-longer interest rates.
If I show you the same thing in semiconductors, you have overwhelming green here and that's led by NVIDIA.But it's definitely been doing a lot of the leg work here when you take a look at unprofitable tech for the month.So Robin Hood up there and then Coinbase, which is both an exchange and a broker did well as well.
And where that shift really took place is when former President Trump's odds actually started to eclipse President Biden's odds.I think the one liner is that the market is warming up to the idea of uh of the Trump victory this fall. But if you look at just overall, those Memorial Day to Labor Day type of returns on average, going back over the last 50 years, average for the S AND P that is, you're up 1.8% more recently.So maybe a little bit better returns more recently as we go into the fall.
When you look at it versus semiconductors, it's actually trading cheap on a longer term basis and even to the market, it's pretty much in line just looking at for pe multiples.Well, stocks are wrapping up the last trading day in May with the dow jumping nearly 600 points, the major indices finishing off a winning month and Yahoo Finances is Josh Shafer here with more on the market takeaway.
And the overall trajectory of the way the rest of this year looks right, the broadening trade was supposed to come with a 1.6 rate cuts.Maybe the, the case for the broadening trade isn't as strong as it once was.And when people think cuts are coming.I mean, I guess we ended up rallying at the end of the day a little bit.
Um, you know, there was that moment in the court uh room after the verdict was read and he was leaving where said it was a human moment, so to speak when he reached out to grab his son's hand. Um as we've been talking about, there is nothing that was sort of particularly revelatory about this trial and conviction, right?There are a few surprises left um when it comes to him So when we look how he's perceived in the country and what people are going to do, I mean, there was just a poll that just came out, um, a Reuters poll that found that one in 10 Republicans said they were less likely to vote for him with this verdict.Well, I mean, look, I think you're right.
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