February 4, 2021
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Investment Commentary
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Major indices posted notable gains, with the S&P 500 achieving its second consecutive year of 20%+ performance for the first time since 1998.
U.S. equity markets saw broad gains in Q3, with all major indices posting positive returns. Notably, market leadership, which had been concentrated in large-cap tech, broadened as other sectors and asset classes joined the fun.
Major US equity indices put in a mixed performance in Q2, with the Dow falling (1.7%), while major performance contributions from some of the Magnificent 7 stocks helped drive the S&P and Nasdaq 3.9% and 8.3% higher, respectively.