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The S&P 500 and the Dow Jones Industrial Average finished the 2013 first quarter at record highs; both indexes exceeded their prior highs of October 2007. The S&P 500 produced a total return (price change plus dividends) of 10.6% and the Dow Jones Industrial Average rose 11.9% for the quarter. Consistent with a history of strong market rallies, lower quality stocks (+18.1%) outperformed higher quality stocks (+10.4%) for the quarter. The smaller capitalized companies in the S&P 500 (+12.1%) outperformed the largest 50 capitalized companies (+8.3%) in the index on an equal weighted basis. The quarter again was marked by ...
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