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 [...]
U.S. Performance Dashboard – January 2024
Despite a sharp drop on the final trading day of the month post Fed Chair Powell's comments indicating rate cuts were not imminent, the S&P 500® rose 2% in January. The month was characterized by a series of record highs, driven by strength from the Magnificent 7, which propelled the mega-cap S&P 500 Top 50 up 3%. Strong Q4 2023 economic data also dampened optimism that the Fed would be able to begin cutting rates as [...]
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 [...]
U.S. Performance Dashboard – November 2023
Optimism returned to the market with a vengeance in November, as cooling inflation readings raised expectations for future Fed rate cuts, boosting U.S. equities, with the S&P 500® up 9% in November. With the exception of Energy, all sectors posted gains, led by Information Technology, up a staggering 13%. Consistent with the upbeat market sentiment, High Beta and Momentum led among factor indices, while their defensive counterparts Dividend Aristocrats and Low Volatility unsurprisingly lagged.
