Summer 2020 Investment Commentary

U.S. equity markets saw broad gains in Q3, with all major indices posting positive returns. Notably, market leadership, which had been concentrated in large-cap tech, broadened as other sectors and asset classes joined the fun.

Major US equity indices put in a mixed performance in Q2, with the Dow falling (1.7%), while major performance contributions from some of the Magnificent 7 stocks helped drive the S&P and Nasdaq 3.9% and 8.3% higher, respectively.