U.S. economy posts gains during second quarter
MONTHLY MARKET COMMENTARY |
The U.S. economy gained 4.1 percent during the second quarter according to the first estimate of the gross domestic product by the Bureau of Economic Analysis. Personal consumption was the largest contributor to the overall gains. This was the highest rate of growth since the third quarter of 2014.
Equities performed well during the month with both domestic and international indices ending higher. Health care, industrials and financials outperformed domestically. Technology underperformed the broader index as earnings from large technology names during the month underwhelmed investors.