ACG’s August Capital Markets Review
(Download the full report HERE)
Market Highlights
- The month of August began with a sharp market selloff and spike in volatility before steadily rising through month-end as the Fed indicated rate cuts were imminent, and recession risks remained low.
- The S&P 500 was up +2.43% for the month and is now +19.53% higher year-to-date.
- Small Cap stocks pulled back after a strong July, with the Russell 2000 Index falling -1.49% in August.
- The Real Estate sector continued a strong start to the quarter by rising 5.79% for the month. Consumer Discretionary (-0.97%) and Energy (-1.70%) were the only sectors with negative performance in August.
- The Russell 1000 Value rose +2.68% in July compared to +2.08% for the Russell 1000 Growth. Value has outpaced Growth so far this quarter by approximately 7.50%.
- The MSCI EAFE Index rose +3.25% for the month and is now up +11.96% for the year. Emerging Markets lagged slightly with the MSCI EM Index rising +1.61% in August.
- The 10-year Treasury yield continued to decline during the month, going from 4.06% to 3.91%. The Bloomberg US Aggregate Index rose +1.44% for the month and is up +3.07% so far this year.
Download the full report HERE to see index returns and more.
Sources:
Morningstar Direct