U.S. Performance Dashboard – October 2024
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U.S. Performance Dashboard – September 2024
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U.S. Performance Dashboard – August 2024
- Thanks to optimism surrounding a soft landing and encouraging inflation results, U.S. large-cap equities managed to recover from the trouncing of stocks at the start of the month to finish August with a gain. The S&P 500® was up 2% in August, outpacing the S&P MidCap 400® and the S&P SmallCap 600®.
- Consumer Staples and Real Estate led among large-cap sectors. Meanwhile, Energy and Consumer Discretionary were the laggards, a potential signal of risk-off sentiment carrying over from the global tumult earlier in the month.
- In another sign of defense, low volatility and low volatility high dividend strategies led among our reported factor indices.
U.S. Performance Dashboard – July 2024
- Propelled by weakness in Big Tech coupled with expectations of potential Fed rate cuts, the market witnessed a significant rotation toward smaller-cap stocks in July. The S&P MidCap 400® and the S&P SmallCap 600® were up 6% and 11%, respectively, outperforming the S&P 500® by a significant margin.
- Real Estate and Utilities led among large-cap sectors, while Information Technology and Communication Services were the laggards.
- Most of our reported factor indices posted gains, led by dividend and value strategies, another sign of the market’s rotation away from Growth and Momentum, which have been the leaders YTD.dashboard-us-2024-07
U.S. Performance Dashboard – April 2024
- As growing concerns surrounding rising inflation and the resulting hawkish sentiment from the Fed led to market jitters, U.S. equities tumbled in April, with the S&P 500® down 4%.
- Mid and small-caps fared worse than their large-cap peers, with the S&P MidCap 400® and the S&P SmallCap 600® both down 6%.
- All sectors posted losses, with the exception of Utilities, up 2%.dashboard-us-2024-04
U.S. Performance Dashboard – December 2023
- After a dismal 2022, the market recovered with a vengeance in 2023. Closing out the year with nine consecutive weeks of gains, the S&P 500® finished with an impressive 26% return for the year. The relentless strength of the Magnificent Seven powered those gains throughout, pushing the mega-cap S&P 500 Top 50 up a stonking 38%.
- Thanks to optimism that the Fed would be able to engineer a soft landing, overall market sentiment improved drastically in the last two months of the year. This broadened the rally, with the S&P MidCap 400® and S&P SmallCap 600® both rising 16% for 2023.
- Most sectors posted gains, led by Information Technology, up an astounding 58%, with Communication Services close behind, up 56%.
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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 – 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 – 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 – November 2022
- A rally on the last trading day of November capped off a month of relief for the market in the form of easing inflation and optimism surrounding a potential slowing pace of U.S. rate hikes. The S&P 500® posted its second consecutive month of gains, with a total return of 6%. The S&P MidCap 400® and S&P SmallCap 600® were up 6% and 4%, respectively.
- All S&P 500 sectors finished higher with Materials in the lead and every reported U.S. equity factor index also rose, led by High Beta.
- Performance among commodities was mixed, with gains in Industrial and Precious Metals and declines among Livestock, Agriculture, and particularly Energy.