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July 2015 Market Commentary

U.S. and overseas equity markets were mixed throughout the month as global macro headlines continued to be front of mind for investors.  Events throughout the developing world and commodity markets were strong headwinds to risk assets causing heightened demand for safe haven securities.

For the month, the S&P 500 Index gained 2.1%, while the Russell 2000 Index of smaller companies finished 1.2% lower. Information technology, healthcare, utilities, financials, and consumer related sectors were among the top performers, while the materials and energy sectors lagged. Across market capitalizations, small-cap stocks generally underperformed their mid- and large-cap counterparts. Growthstocks outperformed their value equivalents.

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