ClearBridge Advisors

Many of the most critical components of AI infrastructure are produced by a small and increasingly consolidated group of highly specialized companies.

US equities continued to climb higher in May, with the S&P 500 Index rising 5.1%. Further de-escalation of geopolitical tension in the Middle East has paved the way for the market’s 19.5% advance from the late-March lows.

ClearBridge Investments believes tariffs remain the key risk to corporate profits in the second half of the year and is less concerned about geopolitical events or the outlook for fiscal and monetary policy.