U.S. equities finished July in upbeat risk-on fashion, courtesy of solid earnings from mega cap technology and major oil companies. Overall monthly gains were led by a strong recovery in cyclical growth-oriented companies, especially among smaller capitalized firms. The S&P 500 broad-market benchmark surged over 9% for its best month since November 2020 after losing 8.3% in June. Equity markets reversed last month’s losses, looking past concerns about high inflation and recessionary indications.
For more insights, download our full recap.
The Monthly Recap is published by Cetera Investment Management LLC, an SEC registered adviser owned by Cetera Financial Group. Cetera Investment Management provides market perspectives, portfolio guidance, model management, and other investment advice to its affiliated broker-dealers, dually registered broker-dealers and registered investment advisers.
Want more insights like this, sent straight to your inbox?
Subscribe to email updates from Cetera and be well informed about what’s happening within the market and the financial services industry overall.