Tech and energy stocks top performers in 2nd quarter

All three major indices ended the second quarter on a positive note. The S&P 500 was up 2.9% and the Dow Jones was up 0.7%. Energy and technology sector stocks led the markets in the second quarter, helping to advance the tech-heavy Nasdaq by 6.3% for the quarter.

With oil prices climbing (see Record U.S. oil exports help narrow trade deficit), the energy sector was the market’s top performer for the second quarter, marking its single largest quarterly gain since 2011. Technology sector stocks were also up for the quarter as the sector dodged the tariff turmoil during most of the second quarter, but may be adversely affected by a continuing strengthening dollar. U.S. intellectual property and the growing prominence of technology in the global economy is becoming forefront for regulators, as the administration focuses on protecting U.S. intellectual assets.

Markets watchers are diligently deciphering what industries and companies may be impacted by the ever-longer list of new tariffs. Some companies are planning to absorb a portion of the tariffs while others will pass along the costs in the form of higher prices to customers. As always, contact us if you have any questions.

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