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1st Quarter 2015 Market Commentary
Securities markets experienced heightened volatility throughout the first quarter as mixed economic data, fiscal, and monetary policy divergence suggests a decoupling of select economies. Equity indices posted gains despite these headwinds as investors continue to scour markets for yield.
For the quarter, the S&P 500 Index advanced 1.0% while the Russell 2000 Index of smaller companies gained 4.3%. Health-care, industrials, consumer discretionary and staples were among the top performing sectors, while energy, financials, and utilities lagged. Across market capitalizations, small-cap stocks generally outperformed mid- and large-cap stocks. Growth stocks outperformed their value counterparts.