- The S&P 500 gained 0.1% for the month, just squeaking out the fourth straight monthly gain for the first time in two years. Considering it was down 4.6% with three days to go, closing green for the month is very impressive. The only other month to be down more than 4% with three days to go and close green was September 1938.
- The realization that rates will stay lower for longer helped anything that sported a higher yield, as real estate, utilities, and telecom all led in June (per S&P 500 GICS sector indexes). Financials were the big loser, down more than 3%. Tech and consumer staples were the only other sectors lower.
- The month ended with a blast of volatility, as the S&P 500 dropped 5.3% the two days after Brexit for the worst two day drop in 10 months. Only to rebound the next three days by more than 4.9% for the best three day rally since the February lows.
- July is the best month during the historically weak summer months. In fact, going back to 1928, the S&P 500 in July has gained 1.52% on average, the most out of any month.
- The S&P 500 gained 1.9% to close higher for the third straight quarter. This comes on the heels of being down two in a row in the second and third quarters of 2015.
- Energy and telecom led, while consumer discretionary and technology were the only two groups lower.
- The third quarter is the weakest quarter of the year going back to 1950, with an average return of 0.5% and higher 59.1% of the time. In fact, during the past 20 years, the third quarter is the only quarter to sport a negative return—down 1.2% on average.
- Last year, the third quarter lost 6.9%, the worst third quarter since 2011 dropped 14.3%.
- The S&P 500 went 20 consecutive days without a 1% move (up or down) right before the Brexit vote. This was the longest streak without a 1% move since late 2014 and it ended with a big gain the day before the Brexit vote
- The S&P 500 went 54 days without a 1% drop, the longest streak since 66 days in the summer of 2014.
- The streak above ended once the S&P 500 dropped 3.6% on the day after the Brexit vote. This was the first 3% move in 210 trading days, which was the longest streak in nearly four years.
- To end the month, the S&P 500 moved 1.3% or more (up or down) six straight days. It hasn’t done seven straight since December 2008.