The U.S. stock market continued its relentless move higher. Having posted its best 12 month return in more than 30 years last quarter (56.36%), the S&P 500 Total Return Index cooled off only slightly, recording a 40.33% return for the 12 months ended June 30.
The Tandem Report
All U.S. equity indices closed higher in August, as the S&P 500 notched its seventh straight monthly gain. Equities experienced a minor speed bump in the middle of the month when geopolitical tensions rose and chatter regarding the Delta variant’s effects on economic growth gained some steam.