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A Record Breaking Start to the Year

Now that  the first trading day of the new year is in the books, what does the first day really matter? Of course one day doesn’t make a full year, but it is quite interesting how much the first day of a new year can signal things to come. Over the past 20 years, the S&P 500 Index has been up 10 times and down 10 times; when the first day is green the full-year return has been up +14.2% on average, while a lower first day has resulted in the full-year return being in the red. (LPL)

Yesterday stocks were up about 0.80% making it a record-breaking start to the year. The S&P 500 and Nasdaq both closed at record highs. The Nasdaq closed above 7000 for the first time ever. (CNBC)

Year-end holiday retail sales rose 4.9% compared to last year, according to the Mastercard SpendingPulse report.  In addition, year-end bargain hunters were expected to spend another $69 billion last week.  

Argentina's peso fell 15% in 2017 and was down 34% in 2015 and 18% in 2016. Inflation rose 21% in 2017. (CNN)

With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.

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