(Download the full report HERE)

Market Highlights

• Equity markets ended the month generally higher, led by a seventh straight monthly gain for the S&P 500 as markets anticipated continued earnings strength and supportive Fed policy.
• The S&P 500 was up +0.25% in November and is now up +17.81% so far this year.
• US Small Caps rose during November, with the Russell 2000 up +0.96% to bring year-to-date gains to +13.47%.
• S&P 500 sector performance was led by Health Care (+9.31%) and Communication Services (+6.35%), while Information Technology fell -4.29% in a rare down month relative to recent history.
• The Russell 1000 Growth (-1.85%) trailed the Russell 1000 Value (+2.66%) in November.
• Emerging Markets stocks (-2.39%) took a breather from strong recent performance as momentum-driven names in Korea and China pulled back. Developed International equities as measured by the MSCI EAFE rose +0.62% for the month and are now +27.40% higher YTD.
• Mixed messages from Fed officials saw rate cut expectations go from below 30% to near 80% by the end of the month. Bonds rallied with the Bloomberg US Agg up 0.62% in November. 

Download the full report HERE to see index returns and more. 

Sources:

1. Morningstar Direct, MSCI