Yet Another Strong Quarter, But Stay Focused Beyond The Horizon
In the first quarter of 2017, stocks posted a total return of 6.1%.
That followed a return of 3.8% in the fourth quarter of 2016, 3.9% in the third-quarter and 2.5% in the quarter before that.
For the 12 months ended March 31, the total return on blue-chip companies in the Standard & Poor’s 500 index – if you include the reinvestment of dividends – was 17.2%! What a great run.
For months, politics has captivated the nation but, at the same time, better than expected economic data streaming in month after month propelled stock prices higher.
The nation’s largest publicly-held companies recovered from a 2016 profit collapse in energy and mining and, after the November 8 presidential elections, expectations of a major tax cut under President Trump catapulted share prices to new all-time highs.
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