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Stocks rose solidly in the 1st quarter of 2017 as momentum from November’s presidential election kept the rally going. Led by the technology sector, which had done very little after the election, equities started the year with very strong gains. Despite backing off of all-time highs, the Dow rose 4.6% to close at 20,663, marking its sixth straight quarter of gains.
The year 2016 started out tough for investors and brought with it many surprises. Looking only at the year’s final numbers, one may never have never known how much of a bumpy ride it was for both equity and bond investors. During the 4th quarter, stocks surged, extending the bull market that is now almost eight years old. The election of Donald Trump had investors thinking about lower taxes, less regulation, pro-business initiatives, and what could be a very bumpy ride while unwinding many of the Obama administration’s policies.