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Wall Street to Your Street

2016 market recap: Strong market highlights tumultuous year

All things considered, the stock market was remarkably stable and steady in 2016. The current bull market has stretched to nearly 94 consecutive months, the second-longest run in U.S. history without a single drop of 20% or more (since March 2009). But the 9.54% run-up in the S&P 500® over the past 12 months came amidst one of the most historic and tempestuous years in decades.

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Fed finally agrees to small rate hike

Twelve months after the Federal Reserve last raised interest rates, the board finally agreed to raise rates again on Wednesday, December 14, increasing the federal funds target rate by 25 basis points, to a new range of 0.50% – 0.75%.

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Unemployment drops to 9-year low

The U.S. unemployment rate dropped to 4.6% in November – the lowest level since August 2007 – according to the U.S. Department of Labor, Bureau of Labor Statistics Employment Situation report issued Dec. 2.

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November market recap: Interest rates rise post election

Market interest rates moved up in November with the election of a new president who has advocated for spending more on infrastructure and the military while cutting taxes. Fixed income investors drove rates higher over concerns that the combination of increased government spending and lower tax revenue could lead to a growing deficit and mounting inflation.

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