U.S. Equity Funds Press Higher but Fade Late in the Third Quarter
Investors pile into what's working.
Fund Spy
Mentioned: Tesla Inc (TSLA)
, Facebook Inc (FB)
, S4 Capital PLC (SFOR)
, Carvana Co (CVNA)
, American Funds AMCAP A (AMCPX)
, Fidelity® Blue Chip Growth (FBGRX)
, Janus Henderson Small Cap Value T (JSCVX)
, Amazon.com Inc (AMZN)
, Columbia Sportswear Co (COLM)
, Apple Inc (AAPL)
U.S. equity markets posted further gains in the third quarter, but it was an uneven journey. Bolstered by loosening lockdown restrictions and continued hopes for accommodative monetary and fiscal policy, the S&P 500 gained 14.1% from July 1 through Sept. 1, when it reached an all-time closing high of 3,580. However, the rally was narrow. Familiar names from the technology and consumer cyclical sectors led the way, with each sector gaining over 20% each.
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Adam Sabban has a position in the following securities mentioned above: BDFFX. Find out about Morningstar’s editorial policies.