Brian Rogers: We do not anticipate a recession
During the second quarter, value stocks held up better than growth stocks across all market capitalizations. Among large-cap stocks, sector performance was mixed. Information technology and health care shares declined, but utilities, energy, and consumer staples posted gains. The Dow Jones Industrial Average had been up more than 8% for the year through May 10, when it began a steep decline well below the 11,000 level. A strong rally from mid-June through the end of the quarter pushed it back up above that milestone. The S&P 500 Stock Index was down, but to a far lesser extent than the Nasdaq Composite Index with its heavy component of technology shares.
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