2017 Fourth Quarter Review of the Markets

September 19, 2019
2017 was another stellar year for stocks as prices around the world increased. The media seemed to constantly report record highs domestically with the S&P 500 index increasing 21.8% for the year. Internationally, stocks also performed well, gaining 27.2%. Ultimately, 2017 will go down as a year of strong returns and exceptionally low volatility.
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2017 Third Quarter Review of the Markets

September 18, 2019
The third quarter of 2017 continued to be positive for financial markets with the S&P 500 returning 4.5% for the quarter. Small cap stocks outperformed larger companies for the first time this year, but only after a loss of over 6% from the highs. The impressive recovery was stoked by optimism over corporate tax reform in the United States.
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2017 Second Quarter Review of the Markets

September 17, 2019
Stock and bond indices increased further during the second quarter of 2017. Non-U.S. stocks continued to outperform U.S. stocks. The MSCI ACWI Ex USA, a broad based international index, returned 5.8% for the quarter. Domestic stocks also showed positive performance as the S&P 500 increased 3.1%.
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2017 First Quarter Review of the Markets

September 16, 2019
President Trump’s first two months in office dominated the news flow in the first quarter. The S&P 500 returned 6.1% for the quarter as both earnings estimates and valuations increased. As we cautioned in our last review, small cap stocks are quite expensive by historic standards and performed poorly relative to larger companies returning only 2.5% over the same period.
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