Investment Review - August 2021
- The S&P 500 increased 2.4% in July, bringing its year-to-date gain to 18.0%. The Dow Jones Industrial Average was up 1.4% for the month and has returned 15.2% year-to-date. The Nasdaq Composite advanced 2.8% in July, bringing its year-to-date gain to 16.4%. All sectors in the S&P 500 were positive, with the exception of Energy and Financials. Earnings were strong, as 88% of companies beat expectations in July.
- Non-US stocks were flat to down in July. The MSCI EAFE index of developed countries was flat while the MSCI Emerging Markets index was down -6%. China’s crackdown on for-profit education led to a major sell-off in Chinese stocks. The U.S. dollar was down slightly, as the Fed remains accommodative.
Disclosure: This commentary reflects the opinions of Welch & Forbes based on information that we believe to be reliable. It is intended for informational purposes only, and not to suggest any specific performance or results, nor should it be considered investment, financial, tax or other professional advice. It is not an offer or solicitation.
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