Tell us what you think: The Nasdaq made outsized gains in May, so is it time for the Dow and S&P to catch up?

Key Points
  • U.S. stocks took a hit at the end of May amid trade and political uncertainty.
  • Still, the Dow Jones industrial average and S&P 500 rose around 1 percent and 2 percent for the month.
  • The Nasdaq composite, meanwhile, gained more than 5 percent for May.
Drew Angerer | Getty Images News | Getty Images

Wall Street may have taken a beating at the end of May amid trade-related concerns and fears around political uncertainty in Italy, but that didn't stop major U.S. stock indexes from recording their best month since January.

The Dow Jones industrial average advanced 1.05 percent and the rose 2.16 percent for the month, but that paled in comparison to the tech-heavy Nasdaq composite's 5.32 percent monthly gain.

But not everyone has a rosy outlook for the stock market this year, with Citi's Chief U.S. Equity Strategist Tobias Levkovich forecasting a choppy year ahead. Levkovich has a year-end target of 2,800 for the S&P.

U.S. stocks closed higher on Friday on the back of a better-than-expected May jobs report: The Dow closed up 0.9 percent, the S&P added 1.08 percent and the Nasdaq gained 1.51 percent.