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U.S. Equity Funds Press Higher but Fade Late in the Third Quarter

Investors pile into what's working.

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U.S. equity markets posted further gains in the third quarter, but it was an uneven journey. Bolstered by loosening lockdown restrictions and continued hopes for accommodative monetary and fiscal policy, the S&P 500 gained 14.1% from July 1 through Sept. 1, when it reached an all-time closing high of 3,580. However, the rally was narrow. Familiar names from the technology and consumer cyclical sectors led the way, with each sector gaining over 20% each.

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Adam Sabban does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.