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July 2014 Market Commentary
U.S. and international stocks were mixed as volatility remained heightened amid worsening geopolitical tensions throughout the world and worries about rising interest rates.
For the month, the S&P 500 Index fell 1.4%, while the Russell 2000 Index of smaller companies ended down 6.1%. Information technology and telecommunications were among the top performing sectors, while utilities, industrials, and consumer staples lagged. Across market capitalizations, large-cap companies outperformed mid-, small-, and micro-caps. Meanwhile, growth and value stocks were mixed across market caps.