Equity markets continued their strong positive performance off the March lows in the third quarter. Despite a modest selloff in September, the S&P 500® Index gained 8.9% in the third quarter. Combined with Q2’s 20.5% gain, it was the best two-quarter stretch for large cap stocks since 2009, when markets were recovering from the financial crisis. Small caps’ gains were less robust, with a 4.9% rise in the Russell 2000® Index during Q3. Year-to-date, the S&P 500 is up 5.6% through the end of the third quarter, and the Russell 2000 is down 8.7%.