Markets & Economy

The Economy: July 2016

The Economy: As of July 2016

Though the U.K.’s decision to leave the European Union was a significant political and economic event, global stocks markets were unfazed by it, as July proved one of the best months of 2016. The S&P 500 gained 3.69%, while the Nasdaq, which is composed primarily of technology and health care companies, increased an impressive 6.65%. International stocks fared well too, with the MSCI EAFE up 5.07% for the month, bringing its year-to-date return into positive territory. It is still too soon to make any predictions regarding the many potential outcomes of the “Brexit” vote, but in the near term, we expect the Bank of England will ease monetary policy in response.