Stock markets in the U.S. and (for the most part) around the globe turned in a good second quarter, which when combined with a good first quarter, created fantastic YTD returns for investors. In fact, the returns were historic, especially for the last month of the second quarter.
- The 30-stock DJIA and broad-based S&P 500 posted their best June in 81 and 64 years, respectively;
- The DJIA delivered its best first half of the year since 1999;
- The S&P 500 delivered its best first half since 1997;
- The technology-laden NASDAQ recorded its best June in nearly 20 years.
Markets had a lot to digest in the second quarter and there were two main themes that kept influencing the upward momentum: hopes of a trade truce between the U.S. and China and shifting Federal Reserve bank policies with respect to short-term rates.
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