From Equity Research
Equity markets broadly rose in August despite the ongoing spread of the COVID-19 Delta variant with the rally fueled at least in part by ongoing accommodative monetary policy. Market volatility was relatively flat for the month although the VIX index or “fear gauge” spiked mid-month as news deteriorated around Afghanistan reaching a mid-month high over 24 before settling to end the month in the mid-teens. For the full month, the Dow Jones Industrial Average increased 1.2%, the S&P 500® index increased 2.9%, and the smaller cap weighted Russell 2000® increased 2.1%