Commentary

The S&P 500 Index advanced 0.2% in November, its seventh consecutive monthly gain. Large Cap Growth declined 1.8% as AI-related names came under pressure, while Large Cap Value rose 2.7%. The Russell 2000 and the Dow Jones Index both outperformed the S&P 500 as mega-cap tech stocks weighed down the index.

U.S. equities advanced in October, with the S&P 500 Index rising 2.3%, extending its year-to-date gain to 17.5%. Large Cap Growth stocks outperformed, gaining 3.6%, while Large Cap Value added just 0.4%. Major U.S. indices, including the S&P 500, Dow Jones, Nasdaq 100, and Russell 2000, all marked their sixth consecutive month of gains, with several setting new record highs.