Vestor Capital Quarterly Commentary

Equity indexes have continued to strengthen in the second quarter, which is encouraging given all the headwinds the market has faced such as rising interest rates, bank failures and lingering inflation.  Technology stocks continue to perform well as evidenced by the 32% gain in the NASDAQ composite.  The large weighting of technology stocks in the S&P 500 has helped propel that index up 16% in 2023, vs. only a 5% gain in the Dow Jones Industrial average. The developed large-cap international index has performed well, rising 12%.  Emerging market stocks, due in part to weakness in Chinese equities, have not fared as well but still have posted gains of 5%.

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