- U.S. stocks closed the week roughly flat after losses starting mid-week reversed a 4-day winning streak. This marked the end of the best month for the S&P 500 Index since December 2021 but the worst quarter since early 2020.
- Value handily outpaced growth stocks for both the week and the quarter. This marks a stark contrast to growth’s extensive outperformance over the past several years.
- Cyclical sensitive sectors lagged last week reflecting renewed fears of an economic slowdown. The energy and financials sectors were among the bottom performers.
- More defensive portions of the market including utilities and consumer staples were among the top performers. The real estate sector also performed well due to strong fundamentals and modestly lower rates.
