US and International Equities
The S&P 500 Index gave back some gains in September after a strong five-month run, with most sectors finishing in the red. The utilities and materials sectors were the exceptions, both gaining for the month. The sectors with the largest pullbacks this past month were energy, communication services, information technology, and consumer discretionary. Given the challenges with the technology sector, large growth underperformed large value. In addition, mid and small-cap equities also lost ground this month.
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