The S&P 500 recorded a positive return of 2.87% in June 2024, continuing a trend of mostly positive performances in recent Junes, including gains in 2020 (+1.56%), 2021 (+1.30%), 2023 (+6.03%), and a decline only in 2022 (−9.13%). Despite the historical adage "Sell in May and Go Away," data shows that May to October returns have been positive on average, with an annualized return of 6.6% and stocks rising 72% of the time. However, early June 2025 has seen stock futures slip slightly following a strong May performance, which brought equities close to their highs since the April volatility reversal and within 4% of all-time highs reached in February. Investors are closely watching the upcoming U.S. May jobs report and updates on tariffs imposed by former President Donald Trump, as signs of weakness in the labor market could prompt the Federal Reserve to consider earlier interest rate cuts. Market sentiment reflects cautious optimism, with some expecting a sideways market through the summer months until a potential rally in September or October. Overall, while May 2025 was strong, concerns over tariff-related economic impacts and job market data are influencing market dynamics as June begins.