4th Quarter 2017 Market Commentary
New highs and the fundamentals
The S&P 500 Index finished the quarter at a record high. Notably, the closely followed gauge of 500 large U.S. stocks ran up its quarterly winning streak to eight consecutive quarters (WSJ, MarketWatch data).
It’s done so in the face of three devastating hurricanes—Harvey, Irma and Maria, dysfunction in Washington, unsettling news from North Korea, and gridlock in Washington.
But in many respects, it shouldn’t be all that surprising.
As I’ve wandered through the literary tulips with you, one common theme is a focus on the economic fundamentals. (more…)