Finance
The 1
As of July 4, 2026, the S&P 500 is up 9.3% year-to-date, with small and microcap stocks outperforming large caps.
Key takeaways
- The S&P 500 is up 9.3% YTD, with small and microcaps outperforming large caps
- Market gains persist despite macro headwinds, but caution is warranted as this cycle may exhaust itself
As of July 4, 2026, the S&P 500 is up 9.3% year-to-date, with small and microcap stocks outperforming large caps. Technology leads sector performance due to the AI trade, while Communication Services lag. Commodities, particularly crude oil, are outperforming, and non-US equities in Turkey and South Korea are delivering strong returns. Market gains persist despite macro headwinds, supported by excess liquidity and passive flows.
By the numbers
- 9.3%
- S&P 500 year-to-date gains in the first half of 2026
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Common questions
- Where can I read the original report?
- Read the full report at seeking_alpha.
