Stock Market Commentary -
The third quarter of 2017 brought the devastation of multiple hurricanes, escalating tensions with North Korea, the Equifax breach and more White House drama. Yet, investors focused on positive economic and earnings news, as well as the beneficial impact of tax reform, pushing global markets steadily higher with limited volatility.
The S&P 500 advanced another 4.5% for the quarter, bringing its year-to-date return to 14.2%, including dividends. Technology stocks maintained their lead with a quarterly gain of 8.6%, achieving 27.4% year-to-date. A rotation to value stocks during the quarter lifted sagging returns for Energy and Telecom, with each sector pulling in returns of 6.8%. Consumer stocks lagged, with the Staples sector dropping 1.3% and Discretionary stocks rising just 0.8%.
Please see full publication below for more information.