Research Quarterly: Equity and Related

Key Takeaways for 2Q26

• In 2Q26, U.S. equities rebounded in 2Q26 after a volatile and uneven performance in the previous quarter driven by easing of the U.S.-Iran conflict, with oil prices dropping roughly 30% for the quarter. Robust corporate earnings reported during the period also contributed to strong price moves. The S&P 500 ended 2Q26 at 7,49.36 (+14.9% Q/Q, +20.9% Y/Y), the Nasdaq Composite rose to 26,213.72 (+21.4% Q/Q, +28.7% Y/Y), the Dow Jones Industrial Average finished at a record 52,319.20 (+12.9% Q/Q, +18.7% Y/Y), and the Russell 2000 increased to 23,024.37 (+21.2% Q/Q, +39.0% Y/Y) as small caps led annual returns.
• After a more volatile 1Q26, the VIX decreased to a quarterly average of 18.4% (-2.1 pps Q/Q, -5.3 pps Y/Y). Volumes for equities and options posted another record highs last quarter: equity ADV 20.2B shares (+1.1% Q/Q, +9.9% Y/Y) and options ADV 72.8M contracts (+5.7% Q/Q, +27.3% Y/Y). ETF ADV decreased to 4.7B shares (-17.3% Q/Q, +25.6% Y/Y).
• Total equity capital formation was $198.5B (+231.9% Q/Q, +249.0% Y/Y) driven largely by the SpaceX IPO on June 12, which raised a record $86.2B. Total IPOs were $121.6B (+1,020.6% Q/Q, +1,409.5% Y/Y). Market cap of all US listed companies totaled $76.9T in 2Q26 (+16.5% Q/Q, +22.4% Y/Y) and the number of listed companies stood at 5,532 (+0.7% Q/Q, +2.1% Y/Y).

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About the Report

The SIFMA Research Quarterlies contain data and statistics on U.S. markets. The equity and related report – cash equites, ETFs, options and capital formation – includes information on: volumes, volatility, total equity issuance, IPOs, market shares, exchange landscapes, etc.

All reports and corresponding databases can be found at www.sifma.org/research.