Equity markets in November moved broadly higher continuing the trend set in October as companies generally delivered better than expected third quarter earnings. In November, the outlook for a more benign monetary policy backdrop appears to have provided further market support with commentary from Fed Chair Powell adding to investor optimism around the potential for easing rate headwinds. With this backdrop, the VIX Index or “fear gauge” continued its move to the downside dropping from the 26 range at the beginning of the month to end at just over 20. For the full month, all major equity indexes were positive with the Dow Jones Industrial Average increasing 5.7%, the S&P 500 index up 5.4%, and the smaller cap weighted Russell 2000® up 2.2% for the month.