Market Update

Highlights include:

• Volatility resurfaced as the broader equity markets declined.
• In general, larger companies fared better in the month than their smaller counterparts, and value-oriented companies outperformed their growth peers across all market capitalizations.
• Top-performing S&P 500 sectors included Consumer Staples, Real Estate and Energy; Consumer
• Discretionary was the worst performer.
• Over the past year, the S&P 500 has gained over 18%.
• Importantly, underlying fundamentals along with the economy show continued strength.