July 2017 Market Insight

Summer is flying by! Back to school shopping has taken over retail stores, and key data from the second quarter is coming in. The markets in July were fueled by several factors: strong earnings, better than expected housing data, four-decade low jobless claims numbers, the “dovish” Fed meeting, a rise in June durable goods, and positive momentum in tech shares.

July has also seen some market volatility, triggered by the softer US dollar and the ever-present political drama. Overall, US markets continue to trade at historically high levels, and international markets are catching up.

We continue to watch economic data and political headlines, as uncertainty grows with the failed attempts to repeal and replace Obamacare and Congress’s efforts to pass a budget by the end of September.

One note of confidence comes as the Fed considers reducing its balance sheet and making another probable rate hike later this year. Any indication of a recession seems unlikely in the near future, and that trumps the political headlines.

If you have questions or would like to discuss your specific investments, please contact us.

IndexJuly 2017YTD 2017
S&P 500 Composite (Large Cap)2.06%11.59%
Russell 2000 (Small Cap)0.74%5.77%
MSCI World Ex-Us2.98%16.18%
Barclays US Aggregate Bond0.43%2.71%
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