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- October was a stellar month for U.S. equities. The Dow Jones Industrial Average® and the S&P 500® jumped 9% and 8%, respectively, on a total return basis, erasing large third quarter declines. All 10 sectors of the S&P 500 ended October in the black. The Materials sector led the charge, gaining 14%. Volatility decreased, and VIX® ended the month down 38%.
- Mid- and small-cap U.S. equities also had strong performances, as both the S&P MidCap 400 and the S&P SmallCap 600 gained 6% on the month. Growth outperformed value, as the S&P 500 Growth gained 9% while the S&P 500 Value was up 7%.
- U.S. fixed income results were mixed, as the S&P U.S. Aggregate Bond Index declined slightly, while the S&P 500 Bond Index ended up 1%. Yields increased on long dated Treasuries, leading the S&P/BGCantor 20+ Year U.S. Treasury Bond Index to end the month down marginally.