**The TCW Group Q2 Market Summary**

The three major indices—the S&P 500, Dow Jones, and Nasdaq—each closed the quarter near all-time record highs despite ongoing economic growth concerns, a softening labor market, elevated inflation, and the implementation of tariffs.

Within these indices, the top-performing sectors by total return were Communication Services, Utilities, and Consumer Discretionary. Notably, both growth and inflation for the second quarter came in higher than expected, suggesting a resilient U.S. economy and consumer base that has thus far managed to weather the impact of higher tariffs.

### Investment Environment

Despite challenges such as economic growth concerns, a softening labor market, elevated inflation, and tariff implementation, all sectors of the S&P 500 appreciated during the quarter. This overall positive performance reflects underlying strength in the market.

### About TCW Group

TCW is a leading global asset management firm with more than five decades of investment experience. The firm offers a broad range of products across fixed income, equities, emerging markets, and alternative investments.

TCW’s clients include many of the world’s largest corporate and public pension plans, financial institutions, endowments and foundations, as well as financial advisors and high net worth individuals.

For inquiries or communication, please use TCW’s official channels.

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