- 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.
* This commentary reflects the opinions of Welch & Forbes based on information that we believe to be reliable. It is intended for informational purposes only, and not to suggest any specific performance or results, nor should it be considered investment, financial, tax or other professional advice. It is not an offer or solicitation.
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