- In the second quarter of 2020, U.S. equities staged a remarkable recovery from the first quarter’s decline. Stimulus from the Fed and Congress, coupled with the relaxation of some COVID-19-driven economic restrictions, aided the market rebound. The S&P 500® gained 21%, and smaller-caps performed even better, with the S&P MidCap 400® and S&P SmallCap 600® up 24% and 22%. Volatility declined, with the VIX® closing the month at 30.43.
- International markets similarly recovered, with the S&P Developed Ex-U.S. BMI and S&P Emerging BMI up 17% and 19%, respectively.
- All factors and sectors posted gains, with High Beta, Growth, and Momentum in the lead. Consumer Discretionary and Info Tech were the top performing sectors.