Markets were up significantly for the quarter as rapid monetary and fiscal policy reactions to the global pandemic dampened the negative economic impact. U.S. stocks (S&P 500) were up 20.54%, marking their best quarter in over 20 years and erasing most but not all of the first quarter loss. Emerging markets and foreign developed markets were up 18.08% and 14.88%, respectively, also rebounding on an improved economic outlook and helped by a slightly weaker dollar. The U.S. lost 13,288,000 net jobs this quarter, with 20,787,000 losses in April. The unemployment rate rose to 11.1% from 4.4% at the end of March. The price of oil increased from $20 to $39 a barrel over the quarter, staging a dramatic comeback and marking the largest quarterly increase in 30 years.