MARKET STATISTICS
Weekly and Year-To-Date Performance
INDEX 12/31/2016 02/10/2017 02/17/2017 % Change Week % Change YTD
 Dow Jones Industrial Average  19,762.60 20,269.37 20,624.05 1.75% 4.36%
 S&P 500  2,238.84  2,316.10  2,351.16 1.51% 5.02%
 Nasdaq Composite  5,382.70  5,734.13  5,838.58 1.82% 8.47%
 Russell Mid-Cap Index  1,783.06  1,859.26  1,874.04 0.79% 5.10%
 Russell Small-Cap Index  1,356.36  1,388.84  1,399.86 0.79% 3.21%

 

February 17th, 2017

Dear Friends,

The equity markets finished the week with another round of gains and new record highs.  For the week the Dow Jones Industrials, S&P 500 and Nasdaq gained 1.75%, 1.51% and 1.82% respectively.  The Russell Mid-Cap, Small-Cap and MSCI EAFE indexes added 0.79%, 0.79% and 0.60% respectively.

The markets opened the week Monday with a solid gain.  Financials and industrials led with each sector closing up over 1%.  Shares of Citigroup, Goldman Sachs and Bank of America rose 2.29%, 1.46% and 1.39%.  Boeing, United Technologies and Caterpillar stood out on the industrial side with gains of 1.08%, 0.87% and 2.27%.  Technology and biotech companies also made gains with shares of Apple reaching a record high after a gain of 0.9%.  The biotech sector finished up 0.68%.  The Dow finished up 143 points or 0.7%, at 20,412.  The S&P and the Nasdaq both added 0.52%.  Crude oil prices opened the week off 1.78% to close at $52.90 per barrel.

Stocks moved higher again Tuesday led by the financial and technology sectors.  The banking sector made gains following Fed Chair Yellen’s remarks on Capitol Hill after she said the Fed still planned on raising rates three times this year.  The financial sector added 1.24% as shares of Bank of America, Citigroup, JPMorgan and Morgan Stanley rose 2.82%, 1.49%, 1.6% and 1.72%.  Shares of Apple climbed 1.3% to close at a record high for the second consecutive trading session.  Elsewhere shares of Microsoft, Cisco and IBM rose 0.37%, 1.06% and 0.43%.  The dollar index rose 0.21% on Yellen’s comments and the 10-year Treasury note closed up almost four basis points yielding 2.472%.  The Dow closed up 92 points or 0.45%, at 20,504.  The S&P and the Nasdaq added 0.4% and 0.32%. 

The markets continued to march higher Wednesday pushing the major indexes to another round of new highs.  Positive economic data and continued talk of tax reform helped keep the momentum.  Retail sales jumped 1% in January, which beat the consensus expectation, and prices at the consumer level rose by the largest amount in four years.  Financials finished up 1.17% as shares of Bank of America, JPMorgan and Citigroup rose 2.16%, 1.15% and 1.12%.  Utilities and real estate lagged on expectations of upcoming rate hikes.  The Dow finished up 107 points or 0.52%, at 20,612.  The S&P and the Nasdaq added 0.5% and 0.64%.  The 10-year Treasury note added four basis points to close yielding 2.509%. 

Stocks finished mixed but with little change Thursday on weakness in energy and financials. Crude prices finished down 1% on the day on news that U.S. stockpiles are rising despite OPEC’s production cuts.  Shares of Exxon, Chevron and ConocoPhillips were off 1.03%, 1.68% and 2.07%.  Financials were led lower by declines in shares of Morgan Stanley, Wells Fargo and Goldman Sachs, which fell 0.82%, 0.73% and 0.45%.  Weekly jobless claims came in higher than expected but remain well within the range of a strengthening labor market.  The Dow finished up 8 points or 0.04%, at 20,620.  The S&P and the Nasdaq were off 0.09% and 0.08%. 

The markets finished just into positive territory Friday after spending much of the session in the red.  The Dow finished with its seventh straight record closing high.  The energy sector closed down 0.53% as oil prices fell 0.06%.  Shares of Exxon, Chevron and ConocoPhillips were off 0.66%, 0.32% and 1.72%.  Retailers were among the day’s leaders as shares of Starbucks, Home Depot, Target and Wal-Mart added 1.09%, 1.03%, 0.9% and 0.73%.  The consumer staples sector closed up 0.66%.  The Dow finished up four points or 0.02%, at 20,624.  The S&P and the Nasdaq added 0.17% and 0.41%.  The benchmark 10-year Treasury note closed down three basis points yielding 2.42%.

-Sonata