July ended with a thud after Chair Powell’s presser this afternoon sent the S&P 500 lower by 1.09% at the close. Even with today’s 1% declines, though, US equities posted solid returns during the month.
Below is our asset class performance matrix showing total returns for various ETFs today, in July, and year-to-date.
Interestingly, Consumer Staples was the sector that got hit hardest today with a decline of more than 2%. Consumer Discretionary, Materials, Industrials, and Technology also fell more than 1%.
For the month of July, most country ETFs ended up struggling badly even though the US gained 1%+. France, Germany, Hong Kong, India, Mexico, Spain, and the UK all fell more than 2% in July. Silver was the best asset class in July with a gain of more than 6%.
Year to date, the best performer in the entire matrix is the US Tech sector with a gain of more than 30%. Russia ranks second at +25%. Start a two-week free trial to Bespoke Premium to receive our best equity research on a daily basis.