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January 13, 2021

Fourth Quarter 2020 Financial Market Review

After a challenging October, U.S. equity markets rallied in November and December as the S&P 500® Index largely appeared to ignore rising coronavirus cases and a renewed risk of fresh lockdown measures. Instead, the Index hit multiple all-time highs as investor sentiment strengthened on positive vaccine news, an alleviation of election uncertainty and the passage by Congress of a fifth fiscal stimulus bill. As a result, the Index ended the fourth quarter up 12.15% and finished the full calendar year with a gain of 18.34%.

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