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May 2015 Market Commentary

U.S. equity markets posted broad gains throughout May while overseas indices were mostly negative. Macroeconomic events continued to dominate headlines as a stronger U.S. dollar had broad implications for various asset classes.

For the month, the S&P 500 Index gained 1.3%, while the Russell 2000 Index of smaller companies finished 2.3% higher. Healthcare, information technology, and financials were among the top performing sectors, while the materials, energy, and telecommunications sectors lagged. Across market capitalizations, small-cap stocks generally outperformed their mid- and large-cap counterparts. Growth stocks outperformed their value equivalents excluding mid-cap equities.

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