âThe U.S. stock market closed at 9428.19, representing a paper gain of $1.5 trillion as the Wilshire 5000 marked its first positive quarter since a 1.46 percent increase during the third quarter of 2007,â noted Steven J. Foresti, managing director and head of the Investment Research Group of Wilshire Consulting, a business unit of Wilshire Associates. âStocks have risen 38.33 percent since their recent low on March 9, 2009, reducing the current market sell-off to -38.30 percent since the Wilshire 5000âs high in October 2007. Each individual month within the quarter enjoyed a positive return, as Juneâs narrow 0.35 percent gain represented the marketâs fourth consecutive up month,â he stated.
âSmall capitalization stocks took a leadership role during the quarter, reversing a trend of recent underperformance relative to larger stocks,â Foresti continued. âThe Wilshire Small Cap Index rose 26.32 percent versus a 15.57 percent advance for the Wilshire Large Cap Index. The Wilshire Small Cap Index surged 19.87 percent in April alone, marking its best single-month return in the indexâs 31 year history. Growth stocks continued to outpace value shares during the quarter, particularly in the small cap segment, with the Wilshire Small Growth Index up 28.92 percent against 23.64 percent for the Small Cap Value Index,â said Foresti.