Supply-driven rising oil price could potentially cause headwinds for S&P 500

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S&P 500 Nears Worst Month in Over a Year as Rising Yields Signal Inflation Concerns

The S&P 500 is facing its most significant monthly decline since December 2022, with a 5.5% drop in April, effectively halving the gains made earlier in the year. This downturn is attributed to rising bond yields, spurred by ongoing inflation fears that a strong economy might be sustaining. Despite nearing its March 28 record peak, the recent rise in Treasury yields, which accelerated this April, has unsettled the U.S. stock market. Bob Elliott of Unlimited Funds suggests that Treasury rates may need to increase further to temper economic demand sufficiently for the Federal Reserve to be assured that inflation is moving consistently towards its 2% goal.

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