ACG’s September Capital Markets Review
(Download the full report HERE)
Market Highlights
- September saw several positive catalysts for risk assets, including the Federal Reserve beginning a cycle of rate cuts, and continued strong GDP growth.
- The S&P 500 was up +2.14% for the month and finished the quarter up +5.89%.
- Small Cap stocks rose +0.70% during the month and enjoyed a strong third quarter, with the Russell 2000 up +9.27% for the three months ending in September.
- The Utilities sector was up +6.60% in September and is now up +30.63% year-to-date. Consumer Discretionary was the other clear winner for the month by rising +7.09%.
- The Russell 1000 Growth (+2.83%) outpaced the Russell 1000 Value (+1.39%) in September and continues to lead Large Cap equity markets higher.
- The MSCI EAFE Index rose +0.92% for the month and is now up +12.99% for the year. Emerging Markets were boosted by stimulus measures in China and rose +6.68% in September to finish Q3 up +8.72%.
- The Fed cut the policy rate by 50 basis points at their September meeting. Rates broadly fell during the month, helping the Bloomberg US Aggregate Index rise +1.34% in September, bringing year-to-date performance to +4.45%.
Download the full report HERE to see index returns and more.
Sources: