Investment Review - July 2024
- The major U.S. stock indices all posted gains in June. The Dow Jones Industrial Average advanced 1.1%, the S&P 500 rose 3.5%, and the Nasdaq Composite jumped 6%.
- Analysts expect profits from companies in the S&P 500 to grow 11% this year, with every sector except energy and materials showing an increase, according to FactSet. Next year, they anticipate earnings will rise 14%, with the help of all 11 S&P 500 segments. The dividend yield of the benchmark S&P 500 is now below 1.3%.
- The S&P 500 Index equal-weighted is up 4.1% this year, while the S&P 500 Index that is capitalization-weighted has returned 14.5%, led by the information technology sector. That is the largest relative underperformance vs. the capitalization weighted index since at least 1990, according to Dow Jones Market Data.
Key Investment Statistics
Sources: FactSet, Dow Jones Publishing, Bloomberg, Bureau of Labor Statistics, S&P Global Market Intelligence, U.S. Dept. of Commerce, Federal Reserve Bank of Cleveland, NAHB
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