Market Overview: From the Desk of Robert Vanderhooft (CIO)

Published: 27/07/2020

Market Perspectives +
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Current Insights

Equity markets have remained resilient following the price declines and volatility spike in early June and are again near the highs of the recovery. One healthy characteristic of the rally from the March lows has been that occasional pullbacks have reflected a rotation within equities versus outright sell-offs. Large-cap technology shares in the U.S. have benefited most and are leading the rally following brief pullbacks, reflecting gains in other sectors. While headlines in the U.S. with respect to COVID-19 pandemic containment are concerning, underlying data on mobility, spending tracking, and economic surveys are once again signaling a pick-up in activity after stalling briefly in mid-June.

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