QVML - More Balanced June
2023-06-14 15:00:00 ET
Summary
- Heading into the month of June, stock market performance this year was a clear case of the haves and the have-nots.
- As of 5/31, just three sectors - Technology, Communications Services, and Consumer Discretionary - were outperforming the S&P 500 YTD.
- Uneven market returns have been a key complaint of bears all year.
Heading into the month of June, stock market performance this year was a clear case of the haves and the have-nots. The chart below shows the performance of S&P 500 sectors on a YTD basis through the end of May. As of 5/31, just three sectors - Technology, Communications Services, and Consumer Discretionary - were outperforming the S&P 500 YTD, and the eight other sectors were not only underperforming the S&P 500's YTD gain of 8.9%, but they were also all down on a YTD basis.
The flip of the calendar has seen the trend of uneven YTD returns flip as well. Besides the fact that every sector is up on an MTD basis, the number of sectors outperforming the S&P 500's 4.6% MTD gains are much more evenly split, with five sectors outperforming and six underperforming. Surprisingly, one of those sectors lagging behind the S&P 500 is Technology! Uneven market returns have been a key complaint of bears all year. If the pattern of June continues, though, what will they blame next?
Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.
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More Balanced June