Investment Review - February 2017
- Each of the three major indices posted positive returns in the first month of 2017. The NASDAQ Composite led the way gaining 5.3%. The S&P 500 advanced 2.0% and the Dow Jones Industrial Average rose 0.7% during the period.
- Corporate earnings for the fourth quarter (Q4) of 2016 are coming in better than expected. Combining the 60% of the companies in the S&P 500 having reported with estimates for the remainder, earnings are tracking towards a 4.6% gain in Q4. This growth rate is ahead of previous expectations for a 3.1% increase prior to the beginning of the reporting season. Looking ahead, earnings momentum is expected to accelerate in 2017, potentially to double digit rates if current consensus estimates prove accurate.
- The New England Patriots won their 5th Super Bowl championship in a record-breaking come from behind victory over the Atlanta Falcons. The 5th win established a record for Tom Brady and Bill Belichick as the most won by any quarterback/coach combination in NFL history.
Sources: Bloomberg LLC, FACTSET, U.S. Commerce Department, Bloomberg Businessweek, IHS iSuppli
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