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Wall Street to Your Street
First quarter 2017 recap: Tech reboot leads strong stock market
April 5, 2017 | Gene Walden, Senior Finance Editor
After a lull in the fourth quarter of 2016, the information technology sector of the S&P 500® is leading the way this year with a gain of more than 12% through the first quarter. The surge in tech has been fueled, in part, by strong earnings from Apple and optimism that potential cuts to corporate taxes would give U.S. companies extra spending money to upgrade their technology.
Fed approves first rate hike of 2017
March 16, 2017 | Mark Simenstad, Vice President and Head of Fixed Income Funds
Buoyed by employment growth and solid consumer spending trends – as well as improving corporate earnings – the Federal Reserve Board (Fed) agreed to raise rates Wednesday, hiking the federal funds target rate by 25 basis points to a new range of 0.75% to 1.00%.
Job growth remains strong in February
March 13, 2017 | Russ Swansen, Chief Investment Officer
Job growth exceeded 200,000 for the second consecutive month in February, with U.S. employers adding 235,000 nonfarm payroll jobs, according to the U.S. Department of Labor, Bureau of Labor Statistics Employment Situation report issued March 10.
February market recap: Corporate earnings driving stock growth
March 2, 2017 | Gene Walden, Senior Finance Editor
The stock market continued to move up in February, bolstered by strengthening corporate earnings growth and solid consumer spending trends. As it did in January, the S&P 500® set a new high in February, finishing the month with a 3.72% gain at 2,363.64.
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