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August 2014 Market Commentary

U.S. stock indices reached new highs during August while international market returns were more mixed. Heightened geopolitical tensions and varied readings from economic indicators increased volatility globally.

For the month, the S&P 500 Index gained 4%, while the Russell 2000 Index of smaller companies rose 5%. Consumer staples, healthcare, and utilities were among the top performing sectors, while telecommunications and energy lagged. Across market capitalizations, large-, mid-, and small-caps all posted positive results. Meanwhile, growth stocks outperformed their value counterparts across all market caps.

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