FTDS - Quarterly Trading Report - Q2 2024: A Rising Tide Doesn't Always Lift All Boats

2024-07-26 16:00:00 ET

Summary

• The divergence between the Magnificent Seven and the other 493 companies in the S&P 500 Index continued during the second quarter, with the forming gaining nearly 18% while the latter declined by about 1%.
• For the second straight quarter, fixed income markets experienced a higher degree of volatility than normal, primarily due to shifts in inflation readings and speculation over when the U.S. Federal Reserve could begin lowering rates.
• The U.S. dollar remained strong throughout the quarter while the Japanese yen continued its decline.

The second quarter of 2024 was marked by a sharp divergence in U.S. equities, with the Magnificent Seven group of stocks gaining nearly 18% during the April-through-June timeframe , while the other 493 names in the benchmark S&P 500 Index were down a collective 1% on the quarter....

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