Third Quarter 2023 – The Magnificent Seven
Submitted by Alsworth Capital Management, LLC on October 26th, 2023
Market Recap
The S&P 500 reached a 2023 high at the end of July before selling off 7.5% through August and September to finish the quarter down 3.3%. Year-to-date the index remains up a solid 13%. Smaller-cap stocks (Russell 2000) also had momentum early in the quarter, but changed course and ended the quarter down 5.1%, though are still positive 2.5% year-to-date.