Market Commentary 3/12/24

Stocks traded higher in February, with the rally broadening after large cap stocks accounted for most of January’s gains. The S&P 500, with a monthly gain of 5.2%, traded above 5,000 for the first time. The Dow Jones Industrial Average likewise set a new closing high in February, and the Russell 2000 Index of small cap stocks gained 5.7% for the month after declining 3.9% in January. The Consumer Discretionary, Industrial, and Material sectors outperformed the S&P 500, while the Utility, Consumer Staple, and Real Estate sectors underperformed.

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