After a strong start, stock markets bumped through the remainder of June to gain just under 2%. Stocks are still significantly down Year-To-Date and from a year ago. YTD the DOW index loss is -9.8% and S&P index is -4.3%. The DOW is still down -2.7% from a year ago, while the S&P index is up 6%. Bonds also generally closed June higher and are up YTD and over the past year.
Stocks are currently boosted mainly by FANG stocks, the 5-10 largest technology stocks including Facebook, Apple, Amazon, Netflix and Google, which have been thriving in this pandemic culture we are surviving. The stocks in the FANG+ index make up 40% of the NASDAQ index and 20% of the S&P and represent the only sector responsible for the growth in U.S. large company stocks in June as well as in 2020. You own some technology in the stock mutual funds in your portfolio.
Life moves on quite normally for the plants and critters as we humans mark time in isolation. Time to note fun details like the slim cardinal feeding an insistent plump grey fledgling daughter and the sparrow who delights in annoying the robin indulging in a long splashy bath. Space in our days changes our perspective. Time on our hands is fertile ground for growing life in a new direction.
