WILL A STRONG 2017 CARRY OVER INTO 2018?
John Lynch Chief Investment Strategist, LPL Financial | Jeffrey Buchbinder, CFA Equity Strategist, LPL Financial
We close the book on a solid 2017 for U.S. stocks while tipping our caps to a strong start to 2018. Today’s Weekly Market Commentary will provide a high-level performance recap for 2017 that we hope will be helpful for year-end client conversations, in addition to a summary of our equity market views for 2018 following passage of the new tax law.
A QUICK LOOK BACK AT 2017
2017 was truly a remarkable year for the U.S. stock market with record breaking abound. The S&P 500 Index produced 12 positive monthly returns for the first year ever. The Dow Jones Industrials Average produced 71 record highs — its highest total ever. And the year proved to be one of the least volatile in the history of the VIX Index, with some of the lowest volatility readings ever and without so much as even a 3% pullback, despite significant geopolitical uncertainty worldwide. The strong year for stocks was driven by several factors but we attribute the gains primarily to the following.....