U.S. Equity Funds Press Higher but Fade Late in the Third Quarter
Investors pile into what's working.
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.
Adam Sabban does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.