Summer 2020 Quarterly Commentary

The second quarter witnessed one of the biggest disparities between market return and economic data. Some investors were left puzzled why the markets did so well last quarter in a time when bad economic data was being released. Last quarter, the S&P 500 posted a total return of 19.95%, while the Dow Jones Industrial gained 17.77% and the tech heavy NASDAQ Composite increased an impressive 30.63%.