Third-Quarter Winners and Losers Among U.S. Stock Funds
Domestic equities continued to reach new highs.
After a volatile, but positive, first half of 2016, U.S. stocks continued to climb during the third quarter through Sept. 22. The S&P 500 was up 4.2%, while the Russell 2000 Index was up 10.0%. U.S. employers added an average of approximately 232,000 jobs during June, July, and August, but that wasn't enough to push the Federal Reserve to raise short-term interest rates at its Sept. 21 policy meeting.
Technology stocks within the Russell 3000 Index have led the way thus far in the third quarter, climbing 13%. Top performers included hardware firms NetApp (NTAP), Apple (AAPL), and GoPro (GPRO), all of which rose more than 20%. Financial-services stocks also posted strong results this quarter, climbing 8%. Brokers and exchanges Morgan Stanley (MS), Charles Schwab (SCHW), and E*Trade Financial (ETFC) all rose more than 20%; banks Citizens Financial (CFG) and Bank of America (BAC) climbed more than 18%.
Andrew Daniels does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.