U.S. Equities Remain Cautious in February

Domestic equities continued to react to higher overall costs while also projecting lower earnings growth heading into the rest of 2023. Nearly all sectors of the S&P 500 Index posted negative returns for February, pointing to an overall pullback across all industries of the market. The technology-heavy Nasdaq index saw stronger performance relative to the Dow Jones Industrial Index and the S&P 500 Index. A stronger dollar continues to weigh on U.S. multinational firms whose incomes are heavily reliant on international sales.

Sources: Standard & Poor’s, Bloomberg, Reuters, Nasdaq, Dow Jones

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