Market Commentary – 1st Quarter 2017

During the first quarter, U.S. equities continued the strong advance experienced during the fourth quarter of 2016.
For the three months ending March 31st, the Dow Jones Industrial Average posted a 4.6% gain while the S&P 500
Index rose 5.5%. The stock market has been resilient due to robust corporate earnings as well as employment
growth and positive economic data which have undergirded this upward advance…

Market Commentary – 1st Quarter 2017