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November 2014 Market Commentary
U.S. stock indices reached new all-time highs in November while overseas returns were mostly positive. The U.S. economy continued to show signs of increased strength, while central banks around the world reiterated their commitment to ongoing economic stimulus.
For the month, the S&P 500 Index gained 2.7%, while the Russell 2000 Index of smaller companies was mostly unchanged. Consumer discretionary, information technology, and healthcare were among the top performing sectors, while commodity driven sectors lagged. Across market capitalizations, large- and mid-cap stocks outperformed their small-cap counterparts. Growth stocks outperformed value securities.