October showed a glimmer of hope in US equity markets in the form of a rally that then faded in November before regaining traction post-Thanksgiving at the month-end.
The sovereign debt crisis in Europe has largely overshadowed a strong third-quarter earnings season for American companies and improving domestic economic data. Unsurprisingly, Europe is falling into a recession that is starting to depress global economic activity. Financial markets remain at the mercy of high volatility as fear of further fallout to the global economy and markets remains centre stage. The US small-cap market, as represented by the Russell 2000 Index, declined precipitously during much of November only to rebound in its last several days. As this year comes to a clo...
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