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News and Insights » Market Review Week Ending: June 23, 2017

Market Review Week Ending: June 23, 2017

Markets once again touched all-time highs this past week as the Senate released its proposed Health Care bill and tech stocks continue to rebound from their recent dip. Even though we are not quite to the midpoint of 2017, the S&P 500 has already set 23 new highs! This upward trajectory of stocks has rewarded those investors who have continued to be disciplined in their investment strategies.
 
As mentioned in previous weeks, oil prices continue to bounce around $43/barrel, due to the fact that oil production has continually increased since 2010. In spite of OPEC’s recent efforts to cut production, the U.S. seems to be the driving force behind the supply glut. In fact, over the past 7 years, OPEC production increased 11% while U.S. production has gone up 73%, accounting for the majority of the increase.
 
Looking forward to this coming week, Senate Majority Leader Mitch McConnell is expected to continue his push for a passing vote on the Republican’s proposed Health Care Bill. Receiving a passing vote would then allow Republicans to shift gears towards tax reform.

June 26th, 2017 @ 12:00am by UMAFS
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