The S&P 500 ended the first half of the year up 1.23% after declining -1.94% this month. Chatter about Greece and Fed interest rate increases again dominated the headlines. Small Caps were the clear winner last month and so far this year. The Russell 2000 is up 4.75% year to date.

The international markets (MSCI EAFE -2.83%) were down sharply this month. However, year to date the international markets are still outperforming the U.S. equity markets.

The high yield sector has been the clear winner in the fixed income markets so far this year. The Barclay’s U.S. Corporate High Yield index is up 2.53% year to date compared to the Barclay’s U.S. Aggregate (-0.10%).

Please mark your calendar for Wednesday, July 22nd at 4 PM EDT. Sean Clark will be providing his mid-year Market Outlook, approved for one hour of CFP® CE Credit. Click here to register.

The opinions expressed are those of Clark Capital Management Group Investment Team. The opinions referenced are as of the date and publication and are subject to change due to changes in the market or economic conditions and may not necessarily come to pass. Nothing herein should be construed as a solicitation, recommendation or an offer to buy, sell or hold any securities, other investments or to adopt any investment strategy or strategies.

Past performance is not indicative of future results. This is not financial advice or an offer to sell any product. Clark Capital Management Group, Inc. reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs. It should not be assumed that any of the investment recommendations or decisions we make in the future will be profitable or will equal the investment performance of the securities discussed herein. Clark Capital Management Group, Inc. is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about Clark Capital’s advisory services can be found in its Form ADV which is available upon request.

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