Q2 2016 Market Review
Financial market volatility continued during the second quarter primarily driven by the surprising outcome to the U.K. Brexit vote. For the quarter the S&P 500 Index gained 2.46%, bringing the year-to-date return to 3.84%. Smaller stocks, as measured by the Russell 2000 Index, managed to break into positive territory for the year-to-date with a return of 2.22%. The NASDAQ Composite Index continued to struggle with a decline of 2.66% year to date. Higher yielding stocks continued to perform well with the S&P utilities and telecom sectors up approximately 20% year to date, their best start since at least 1990 (See chart: Performance of Telecom Services and Utilities). Emerging market stocks, as measured by the MSCI Emerging Markets Index, increased only slightly in the quarter (+ 0.81%), but they are up 6.67% for the year to date.
Read the commentary