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2nd Quarter 2014 Market Commentary
U.S. and overseas equity markets posted gains during the second quarter despite headwinds from mixed economic data and heightened geopolitical tensions throughout the world.
For the quarter, the S&P 500 Index and the Russell 2000 Index of smaller companies advanced 5% and 2%, respectively. Energy, utilities, and information technology were among the top performing sectors, while financials, consumer services, and industrials lagged. Across market capitalizations, large-cap stocks outperformed mid- and small-cap stocks. Value stocks outperformed their growth counterparts.