The second quarter was a good one, as measured by the US Large Cap S&P 500 Index which was up 4.28%.
The S&P 500 was led higher by large/mega-cap technology names, as seen in the Nasdaq 100’s 8.05% gain
for the quarter. However, it was one of the more uneven markets in recent memory. Size and value factors
not only underperformed the S&P 500 but were both down for the quarter. The Russell 2000 Index (small
cap stocks) declined by -3.28% while the S&P 500 Value Index was down -2.1%.
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