Market Commentary – September 2017

CALM IN THE STORM

The third quarter brought severe weather, menacing geopolitical headlines and further congressional dysfunction, but the equity markets stood their ground and, surprisingly, did so with record low volatility. After increasing by 5.5% in the first quarter, followed by a 2.5% gain in the second quarter, the S&P 500 added another 4.0% in the third quarter. This brings the year-to-date increase to a very respectable 12.5%.

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