Despite a market decline toward year-end, the quarter was generally positive for stock market returns. Still, for the year US stocks had their worst performance since 2008 and both the Dow and S%P 500 finished with small negative returns.
The quarter was dominated by stock market turmoil and indicators of slowing growth in China. Along with mixed economic data in the US, domestic stock markets turned in their worst quarter since 2011.
The focus for the quarter can be summed up pretty easily – The Fed!! Greece!! Greece!! The Fed!! The musical chairs stopped on Greece at quarter end, and the S&P 500 eked out a tiny gain (after dividends) after hitting an all-time high close in May.
The quarter was a bit of a bumpy ride, but the broad US market still eked out a positive return for the quarter. The S&P 500 had its longest “down streak” – 5 days – in 13 months to start the year, which got investors’ attention.