Quarterly report
Large-cap growth buoys US equities amid narrowing rally
Signs of a cooling economy, resumption of disinflation and more modest expectations for the timing and size of interest rate cuts in 2024 provided the macro backdrop for equity performance in Q2. AI optimism provided structural tailwinds for specific pockets of the market.
Key highlights:
- Large-caps sustain leadership
- Growth outperforms Value
- AI beneficiaries lead large-cap industry returns
- Earnings outlook improves
- Valuations moderate
- Russell IPO inclusions are highest in two years
Authored by FTSE Russell’s Global Investment Research team, this quarterly publication provides a deep-dive into the performance and key market drivers of US equities, viewed through the lens of Russell large-cap (Russell 1000), small-cap (Russell 2000), Growth and Value indexes. It's part of a series of reports, available by email as soon as they are published.
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