The Tribune/Bloomberg Index, which measures the stock price performance of Utah's 35 largest publicly held corporations, posted a 1.4 percent loss for the period, compared with a Dow Jones industrial average gain of 8.7 percent and an S&P 500 increase of 7 percent.

"What happened was large-cap companies significantly outperformed the market during the downturn in May and June," said Jonathan Ferrell, manager of the Top Flight Long Short Fund based in Pleasant Grove. "Since then, though, large-cap and small-cap companies have been moving in lockstep." With only a few exceptions, The Tribune/Bloomberg Index is made up of small-cap companies, a term that refers to corporations with $1 billion or less in market capitalization - a figure calculated by multiplying the number of shares a company has outstanding by its stock price.

Although as a group Utah's publicly held companies failed to achieve the gains of the Dow and the S&P 500, a number of individual companies saw increases in their share prices that would have made even the most seasoned Wall Street investor envious.