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 [...]
U.S. Performance Dashboard – June 2024
Markets shrugged off inflation concerns and uncertainty over the timing of potential Fed rate cuts thanks to AI-related optimism. Powered by mega-cap outperformance, U.S. large-cap equities surged upwards, with the S&P 500 up 4% and the S&P 500 Top 50 up 9% in Q2. Mid and small caps didn't fare as well as their large-cap peers, with the S&P MidCap 400 and the S&P SmallCap 600 both down 3%. Information Technology and Communication Services were [...]
U.S. Performance Dashboard – May 2024
Despite weakness in the final trading week of May, U.S. large-cap equities posted their best monthly performance since February, with the S&P 500 up 5%, thanks to AI-related optimism boosting Information Technology and Utilities stocks. Mid and small caps fared similarly to their large-cap peers, with the S&P MidCap 400 and the S&P SmallCap 600 up 4% and 5%, respectively. Except for Energy, all sectors posted gains, led by Information Technology, up 10%.
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%.
U.S. Performance Dashboard – March 2024
Despite uncertainty surrounding potential Fed rate cuts, economic strength and diminishing recession fears led to the best Q1 U.S. market performance since 2019, with the S&P 500® up 11%. Mega-cap dominance was pervasive, with the S&P 500 Top 50 up 12%. The broadening of the rally continued in March, with the S&P MidCap 400® up 6%, outpacing the S&P 500's 3% gain. Except for Real Estate, all sectors posted gains in Q1, led by Communication Services and Energy. [...]
U.S. Performance Dashboard – February 2024
Markets shook off looming concerns over inflation and the Fed’s future rate trajectory with more record highs in February, driving the S&P 500® up 5%. With a consistent tailwind of interest in AI and generally better than expected Q4 earnings, mega caps continued to show strength with the S&P 500 Top 50 up 6%. While small caps lagged, the rally began to broaden with mid caps slightly outpacing their large-cap counterparts, with the S&P MidCap 400® up [...]
