June was a strong month for financial markets, closing out a generally strong quarter. Supported by strength in the underlying economy—including moderating inflation—this performance helped get summer off to a good start.
The Risk Is On
The U.S. equity markets were up significantly for the month, with the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average (DJIA) up 6.61%, 6.65%, and 4.68%, respectively. Both the S&P 500 and Nasdaq also showed strong gains for the quarter, rising 8.74% and 13.05%, but the DJIA lagged with a quarterly gain of just 3.97%.
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