S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
Deutsche Bank’s Jim Reid and team note that the S&P 500 ended Q2 strongly, with the index up 0.79% on the day and delivering its best quarter since Q2 2020. Gains were driven by large-cap tech, especially the Mag 7 and the Philly semiconductor index, while the equal-weighted S&P 500 and Russell 2000 lagged.
Tech strength narrows S&P 500 breadth
“Risk assets largely finished Q2 on a strong footing yesterday, with the S&P 500 (+0.79%) gaining for a second consecutive day.”
“The biggest factor was the recovery in tech stocks, with the Mag 7 (+1.30%) up for a third consecutive day, whilst the Philly semiconductor index (+3.92%) posted another large gain.”
“The rally was somewhat narrow with a majority of S&P 500 constituents lower on the day and just 8 of the 25 industry groups gaining.”
“This left the equal-weighted S&P 500 -0.12% lower, while the small cap Russell 2000 underperformed (+0.46%) its large cap peers.”
“The S&P 500 saw its best quarter since the post-pandemic rebound in Q2 2020, with a +15.2% gain in total return terms.”
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