An S&P news release said that the firm’s S&P 500, pulled ahead by 3.6% for the month. Both the S&P 500 and the Nasdaq reached four-year highs in July. The S&P 500 rose to 1243.72 on July 28, the highest close for the index since June 12, 2001, while the Nasdaq closed at 2198.44, the best since June 8, 2001.
According to S&P, the price of the S&P SmallCap
600 in July traded above the 350 mark for the first time
since its inception on January 3, 1994, returning a
compounded 13.2% per year.
Among style categories, growth-oriented funds outperformed their value counterparts over the month. Growth funds, on average, advanced 5.2%, versus a gain of 4.4% for value funds. Small-cap growth funds stood out among fund categories, surging 6% on average, while large-cap value funds had the weakest showing with an average advance of 3.3%.
According to Standard & Poor’s research, market sectors helping to boost monthly performance for funds were information technology, energy, consumer discretionary, and materials, which all posted strong gains in July. Positive earnings surprises for the companies of the S&P 500 also helped propel the performance of stocks across the board in July, S&P said.