US Large-Cap Equities Post Strong Q2 Gains Amid Macro Challenges

U.S. large-cap equities delivered strong gains in Q2 2026 despite a challenging macroeconomic backdrop. Economic growth remained resilient due to consumer spending and corporate earnings, although labor market conditions softened with slowing job growth and unemployment. The Northern Large Cap Value Fund's Q2 2026 commentary notes that the resilience of consumer spending and earnings growth contributed to the strong performance of U.S. large-cap equities.