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 the top-performing sectors, up 14% and 9%, respectively.dashboard-us-2024-06
