MARKET RECAP*
- The stock market returned slight gains in June amidst rising trade tensions
- The S&P 500 finished the month with a positive 0.6% return
- Top Sectors: Energy (+13.5%), Consumer Discretionary (+7.8%), Information Technology (+6.7%)
- Bottom Sectors: Industrials (-3.6%), Financials (-3.5%), Consumer Staples (-2.3%)
- Large Cap Growth beat Large Cap Value in June by a modest margin
- Growth continues to lead Value by 8.9% this year
- Small Cap stocks gained 0.98% on the month, outperforming both large and mid-cap stocks
- International Developed countries underperformed U.S. stocks by 2.2% on the month
- Emerging Markets declined 2.4% on the month as the dollar continues to strengthen
- Long-Term Treasury yields remained flat on the month as volatility returned in June
- The ten-year Treasury yield ended the month at 2.85% after reaching as high as 2.98% in the middle of June
ECONOMIC NEWS**
- The economy created 213,000 jobs in June, coming in well above expectations of 195,000
- This brings the consecutive number of monthly job gains to 93, the longest on record for the U.S.
- Core inflation rose to 2.3% in June, continuing its rise over the course of the year
- Fed officials have continued to raise interest rates this year as core inflation rises
- The unemployment rate rose from 3.8% in May to 4.0% in June, partially reflecting an increase in the number of Americans seeking work
Asset Performance 6/30/2018**
ASSET PERFORMANCE 6/30/18**
