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News and Insights » Market Review, Week Ending September 1, 2017

Market Review - Week Ending 9/1/2017

The Nasdaq Composite and S&P 500 indexes continue to close at all-time highs, as the S&P 500 Total Return has now closed higher for the tenth month in a row. The US jobs reports numbers for August show that nearly 156,000 jobs were created in the month of August. This number came in slightly lower than analysts expected, however, it didn’t seem to have any negative effect on the market.

As Hurricane Harvey moves away from Texas, economists are left to analyze the effects of the storm. During the storm, nearly 20% of our nations refinery capacity was shut down. This has caused a demand for oil. However, the US Department of Energy has put downward pressure on prices by authorizing the release of half a million barrels of crude from the US Strategic Petroleum Reserve.

Looking forward to the coming months, those who are over age 70 ½ should consider a timeline for receiving any Required Minimum Distributions from their IRA accounts. Feel free to call our office to discuss your options for those distributions.

September 5th, 2017 @ 12:00am by UMAFS
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