June was a strong month and closed out a generally solid quarter, especially for U.S. stocks. The U.S. indices were up significantly for the month, and both the S&P 500 and the Nasdaq showed positive gains for the quarter, although the Dow lagged. International markets also did well in June but ended the quarter flat. Fixed income, on the other hand, was much weaker for both the month and quarter.
Financial markets were clearly in a risk-on mode, which benefited riskier investments like tech stocks at the expense of more boring ones.