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News and Insights » UMAFS Market Review Week Ending 3/10/2017

UMAFS Market Review Week Ending 3/10/2017
 
Thursday, March 9th marked the eighth anniversary of the start of the great bull market, during which time the S&P 500 has gained 246%. Historically, bull market runs of this length have been few and far between; which has recently led some to wonder about the strength of the U.S. market and its future direction.

However, it is important to remember the length of a market cycle does not in and of itself determine future direction. For example, the U.S. economy continues to show signs of strength as the jobs market produced over 230,000 jobs during January and February. Additionally, the Federal Reserve (Fed) is scheduled to meet again this week, during which time they will also likely announce an interest rate increase. Fed rate increases are also a sign of their optimistic view of the economy and future expectations.

Overseas, the Stoxx Europe 600 ended this past week roughly flat, as comments from European Central Bank (ECB) President Draghi lifted bank stocks, helping to offset mid-week declines.
Finally, commodity prices saw a slight pullback as China produced a downbeat demand outlook. Oil prices also dropped below $49 for the first time this year as crude levels saw an unexpected jump in inventories. 

March 13th, 2017 @ 12:00am by UMAFS
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