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MONTHLY COMMENTARY
It has been an unusual year for the stock market. The S&P 500 is up nicely, but a small handful of stocks are doing the heavy lifting. Indeed, in late October the S&P 500 was up about 10% for the year while the equal weighted S&P was actually down slightly for the year. What that means is that if you took out the 7 or 8 big tech names that have accounted for most of the index’s move in 2023, it’s actually been a difficult year for most stocks. In late October, only 3 of the S&P sectors were up for the year while 8 were actually negative for the year. Sometimes it’s interesting to take a look under the hood when it comes to investment headlines and returns.
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THE WOODLANDS EDITION
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