The positive momentum that overtook the market following the election continued into 2017. For the first quarter, the S&P 500 posted a price change of 5.53%. January and February were really strong, while March showed a little bit of a pullback as Healthcare Reform delays called into question the speed at which Tax Reform can get done.
Nevertheless, the market has been vibrant and optimism seems to be ruling the day. No matter which metric you look at, Consumer Sentiment or Consumer Confidence, people are excited about the business friendly policies that are being pushed by the new Administration.
However, things never go straight up forever. We are employing prudent portfolio management tactics and are attempting to capture as much of the upside as we can, while keeping safeguards in place to protect capital when the inevitable pullbacks come.
This is an exciting time for sure and you can feel the Animal Spirits in the air.
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