U.S. stocks returned to gains in August after the S&P 500 and Nasdaq Composite both ended negative the prior two months while the Dow Industrials capped a fifth straight monthly advance. Technology stocks, up 6.25% in August, generated more than three-quarters of the S&P 500’s 2.7% monthly return, whereas Energy's stronger 7% advance contributed only modestly to overall performance. Tech gains were led by a solid 16% rebound in software stocks, while shares in semiconductors narrowly held onto a 1% August gain after being up nearly 10% mid-month.
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.