U.S. stocks ended higher in July, with the S&P 500 up a third straight month, its longest winning streak since last September, while the Nasdaq Composite outperformed for a fourth consecutive month. Both indices set a flurry of performance milestones, although each ended July just below their intra-month highs. The S&P 500 closed above 6,300 for the first time on July 21 and came within 10-points of reaching 6,400 on July 28, capping its 15th record high of the year. The Nasdaq posted 14 record highs in July, the most since December 1999. Equities were driven higher by better-than-expected corporate earnings, mostly favorable economic data, and notable progress on tariff trade deals, including Japan and the European Union.
The Monthly Recap is published by Cetera Investment Management LLC, an SEC registered adviser owned by Cetera Financial Group. Cetera Investment Management provides market perspectives, portfolio guidance, model management, and other investment advice to its affiliated broker-dealers, dually registered broker-dealers and registered investment advisers.