U.S. Performance Dashboard – September 2023
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U.S. Performance Dashboard – August 2023
- Despite a strong recovery in the latter part of the month, the U.S. market rally took a breather in August, with the S&P 500® down 2%, as inflation concerns coupled with uncertainty around the future trajectory of rate hikes reared their head again. Smaller caps performed even worse, with the S&P SmallCap 600® down 4%.
- Energy maintained its spot at the top of the leaderboard and was the sole sector to post a gain.
- Momentum led among our reported factor indices, and in a sign of defense, Quality was in second place. Meanwhile, Low Volatility recovered, performing relatively better compared to High Beta, which was the laggard.
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U.S. Performance Dashboard – July 2023
- Powered by optimism surrounding softening inflation alongside strong earnings from Big Tech, the U.S. market rally gained steam in July, with the S&P 500® up 3%. The breadth of the market continued to widen as a result of small-cap momentum, with the S&P SmallCap 600 outperforming the S&P 500® Top 50 by 2%.
- All of our reported factor indices posted gains, led by Enhanced Value, up 6%. High Beta continued to trounce Low Volatility, a sign of sustained risk-on sentiment.
- All sectors posted gains, led by Energy, which staged a strong reversal from the prior quarter’s losses.
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Quarterly Market Review – Q2 2023
This report features world capital market performance and a timeline of events for the past quarter. It begins with a global overview, then features the returns of stock and bond asset classes in the US and international markets.
The report also illustrates the impact of globally diversified portfolios and features a quarterly topic. ” Let the Compounding Commence!”
Click HERE to download this quarter’s breakdown!
U.S. Performance Dashboard – June 2023
- Concerns around economic fundamentals and uncertainty around the Fed’s future rate trajectory did not deter U.S. equities from posting gains across the board in the second quarter, with the S&P 500® completing its best first half since 2019, up 17% YTD. Led by mega-cap strength, the S&P 500 Top 50 was up 13% in Q2, outpacing smaller caps, which have recently made a comeback in June.
- In a sign of strong risk-on sentiment, Growth and High Beta led the pack for our factor-based indices, while Low Volatility and High Yield Dividend strategies lagged.
- Information Technology led among sectors with an impressive gain of 17% in Q2, while Utilities was the laggard.
U.S. Performance Dashboard – May 2023
- Uncertainty reigned across U.S. markets in May. Grappling with persistent inflation, investors struggled to anticipate the Fed’s rate hike trajectory and the outcome of the federal debt ceiling debates. Amidst these concerns, strong earnings in a handful of sectors helped buoy equities yet worries over a May 31 House of Representatives vote on the debt ceiling deal ultimately weighed heavily on markets.
- Fueled by the strength of mega-caps, the S&P 500® posted a gain of 0.4% in May, outpacing smaller caps, with the S&P MidCap 400® down 3.2% and the S&P SmallCap 600® down 1.8%.
- Information Technology and Communication Services were the best-performing sectors for the month, both up 9.5% and 6.2%, respectively, while Energy showed the largest decline, falling 10.0%. High Beta and Low Growth led among factors.
U.S. Performance Dashboard – April 2023
- Lingering concerns around inflation, coupled with recession jitters stemming from continued turmoil within the banking space, led to uncertainty over the Fed’s future rate hike trajectory. Despite the ambiguity, better than expected Big Tech corporate earnings managed to sustain the U.S. market in April.
- Boosted by the strength of mega caps, the S&P 500® posted a gain of 2% in April, outpacing smaller caps, with the S&P MidCap 400® down 1% and the S&P SmallCap 600® down 3%.
- A return to defense meant that Communication Services and Consumer Staples were the best-performing sectors for the month, both up 4%. Momentum and Low Volatility led among factors, while High Beta was the laggard.
U.S. Performance Dashboard – March 2023
- Accompanied by shock waves from the demise of Silicon Valley Bank, Signature Bank and Credit Suisse, the first quarter was characterized by turbulent swings in inflation and rate hike expectations.
- Despite the surrounding chaos, the market managed to rebound in March. Boosted by Information Technology, the S&P 500® posted a gain of 7.5% in Q1, outpacing smaller caps, with the S&P MidCap 400® up 4% and the S&P SmallCap 600® up 3%.
- A flight to quality sentiment meant that Information Technology and Communication Services were the best-performing sectors for the quarter, up 22% and 21%, respectively. Financials was, unsurprisingly, the sectoral laggard. High Beta and Growth led among factors, while defensive strategies lagged.
U.S. Performance Dashboard – February 2023
- Market jitters returned in February, characterized by concerns over inflation and its impact on rates. In a reversal of January’s rosy performance, the S&P 500® finished down 2%. Smaller caps performed slightly better, with the S&P SmallCap 600® down 1%..
- Fears of rising rates spread overseas, with the S&P Developed Ex-U.S. BMI and the S&P Emerging BMI underperforming the U.S. and finishing with losses of 3% and 6%, respectively.
- Information Technology was the only S&P 500 sector to post a gain, with Energy in the rear. All reported U.S. equity factors posted losses
U.S. Performance Dashboard – January 2023
- After a rollercoaster 2022 and despite mixed earnings results, January was a rosy start to the new year, characterized by better-than-expected GDP growth, a slowing pace of inflation and expectations of reduced rate hikes by the Fed, with the S&P 500® up 6%, posting its best January performance since 2019. Smaller caps performed relatively better, with the S&P MidCap 400® and S&P SmallCap 600® both up 9%.
- International equities outperformed the U.S., boosted by a weakening U.S. dollar and China’s reopening, leading the S&P Developed Ex-U.S. BMI and the S&P Emerging BMI to gains of 8% and 7%, respectively.
- In a sharp reversal from last year, most S&P 500 sectors posted gains, with Consumer Discretionary in the lead. High Beta led among reported U.S. equity factors, while Low Volatility and Momentum lagged. dashboard-us-2023-01