-March 24, 2017 Weekly Market Roundup. U.S. Equity market posted its worst weekly loss of the year after snapping a streak of 109 days without a 1% decline on Tuesday as the focus on health care reform weighed on investor sentiment. Investor skepticism surfaced over the potential failure to pass a new healthcare package and how this could potentially delay pro-growth initiatives, most importantly tax reform and an infrastructure package. Greece Woes, Again - another year, another Greek bailout scare. Like clockwork, Greece missed yet another deadline for unlocking bailout funds this week, which brings it closer to re-entering the “Greek debt crisis” saga we nearly saw in 2015.
-The Fed moved rates upward by +0.25% today and the S&P 500 index rose in broad participation with the Fed delivering in line with market expectations. According to FOMC Chair Janet Yellen, "I think the trajectory you see as the median in our projections which this year looks to a total of three increases, that certainly qualifies as gradual."
-March 10, 2017 Weekly Market Roundup. The U.S. equity market broke the six-week streak of gains and fell for the first time on uncertainty over upcoming US policy changes, macro concerns surrounding falling oil prices and looming Fed rate hikes. It is important to note that investors have benefitted greatly over the past eight year bull run as the S&P 500 has increased by more than 250% since the market bottom on March 9, 2009.
-March 3, 2017 Weekly Market Roundup. For the week, the S&P 500 benchmark booked a 0.7% gain, its sixth consecutive weekly advance and the Nasdaq returned 0.4%. Large cap companies outperformed smaller cap companies for fourth straight week; the trend suggests elevated investor caution with the indices near all-time highs. Additionally, Consumer confidence has hit a 15 year high at 114.8 while December's retail sales were up 5.6% over the past year, a better-than-expected gain. On Friday, Federal Reserve Chair Janet Yellen signaled a strong likelihood for a rate hike at the Fed meeting on March 15-16: “Further adjustment of the Federal Funds rate would likely be appropriate.”
Asset Class Performance Snapshot: Month-end February 2/24, Quarter-to-date, Year-to-date & One Year Trailing for equities & bonds: