Investment Commentary –January 31st, 2017

Market Indices as of Market Close January 31st, 2017
Dow 19,864 (0.76% YTD)
S&P 2,278 (1.96% YTD)
NASDAQ 5,614 (4.05% YTD)
Gold $1,213 (52 Week Low $1,127 High $1,387)
OIL $52.82 (52 Week Low $38.10 High $56.24)
US 10Y Treasury 2.47 (52 Week Low 1.32 High 2.64)

U.S. stocks preserve monthly gains amid selloff
U.S. stocks finished January higher on Tuesday despite a two-session selloff following a controversial immigration ban from President Donald Trump. The Dow Jones Industrial Average DJIA, -0.54% fell 107.04 points, or 0.5%, to finish at 19,864.09, with shares of Goldman Sachs Group Inc. GS, -0.01% and J.P. Morgan Chase & Co. JPM, +0.02% weighing on the average. For January, the Dow closed up 0.5%. The S&P 500 index SPX, -0.09% closed down 2.03 points, or 0.1%, at 2,278.87, for a monthly gain of 1.8%. Industrials and financials weighed on the index Tuesday. The Nasdaq Composite index COMP, +0.02% ticked up 1.07 points to finish at 5,614.79, for a monthly gain of 4.3%.

Fed likely to keep rates steady as it awaits Trump economic plan
The U.S. Federal Reserve is expected to keep interest rates unchanged on Wednesday in its first policy decision since President Donald Trump took office, as the central bank awaits greater clarity on his economic policies.
Trump has promised a large infrastructure spending program, tax cuts, a rollback of regulations and a renegotiation of trade deals but has offered few details or a timeline for their roll out since his victory in the Nov. 8 election.
The central bank’s latest policy decision is scheduled to be released at 2 p.m. EST (1900 GMT) on Wednesday at the conclusion of a two-day meeting. Fed Chair Janet Yellen is not due to hold a press conference.

On Tap for the rest of the week
*Wednesday: U.S. Federal Reserve Board concludes two-day meeting; ADP National Employment Report, ADP; Institute for Supply *Management’s manufacturing index; construction spending, U.S. Census Bureau; vehicle sales, U.S. Department of Commerce
*Thursday: *Labor productivity and costs, U.S. Bureau of Labor Statistic
*Friday: Monthly jobs and unemployment, U.S. Bureau of Labor Statistics; Institute for Supply Management’s nonmanufacturing index; factory orders, U.S. Census Bureau

THIS DAY IN FINANCIAL HISTORY: Social Security Begins
On this date in 1940 a Vermont woman receives the first ever Social Security check in the amount of $22.54.

The views presented are not intended to be relied on as a forecast, research or investment advice and are the opinions of the sources cited and are subject to change based on subsequent developments. They are not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investments.

http://www.marketwatch.com/story/us-stocks-preserve-monthly-gains-amid-selloff-2017-01-31
http://www.reuters.com/article/us-usa-fed-idUSKBN15F0E8?feedType=RSS&feedName=businessNews
http://www.econedlink.org/economic-calendar.php?month=1