Market Update

Highlights include:

• Stocks had the best month of 2024 in terms of performance in November.
• Across market capitalizations, small- and mid-cap growth stocks rose more than their larger counterparts in the month.
• Consumer Discretionary stocks rose 13% on average followed by Financials, which returned 10%. Over the past year, companies in the Financials sector have increased over 45%.
• Boosting equity returns in the month was a Trump victory in the U.S. presidential election accompanied by a Republican sweep in the Senate and House.
• Much of the market enthusiasm resulted from the potential of less government regulation, lower corporate tax rates and a pro-business climate under a second Trump administration.