- Despite ongoing tariff-related trade tensions and macroeconomic uncertainty affecting markets, U.S. equities maintained their upward momentum in July, with the S&P 500® increasing by 2%. Propelled by strong corporate earnings and renewed consumer sentiment, The 500™ reached 10 all-time highs, demonstrating resilience amid economic challenges. However, as the month ended, the rally lost momentum as the tariff deadline neared and the Fed’s post-meeting commentary hinted at potential challenges ahead.
- The market rally extended beyond large caps, with mid- and small-cap equities advancing alongside their larger counterparts. The S&P MidCap 400® and S&P SmallCap 600® concluded July with increases of 2% and 1%, respectively.
- Information Technology, Utilities and Industrials were the leading sectors in July, while overall sector returns were mixed. Health Care experienced the weakest performance, declining by 3%.
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