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Market wrap Jan. 27, 2017: Stocks preserve upward momentum
8/21/2017 5:43:40 PM
HOME : FEATURES : COLUMNS : Market wrap Jan. 27, 2017: Stocks preserve upward momentum
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By Fund Library News Wire  | Friday, January 27, 2017


 

By Mike Keerma

* Weekly wrap: Stocks preserve upward momentum.
* The 2016 FundGrade A+ best-of-the-best funds announced.

* Weekly wrap: Stocks preserve upward momentum. While the major North American stock indices faded marginally in Friday’s session owing to a weaker-than-expected 1.9% fourth-quarter reading on U.S. GDP growth, stock markets still managed to post gains on the week overall, maintaining the upside momentum that began after the election of President Donald Trump last November. Declining crude oil prices depressed the shares of some Canadian energy majors and contributed to a near-flat weekly performance for Toronto’s resource and financials-weighted S&P/TSX Composite Index. The more ebullient U.S. markets saw the Dow Jones Industrial Average crack the 20,000 level for the first time ever last week, and generally positive investor sentiment as the fourth-quarter earnings season gets underway helped boost the S&P 500 Composite to a 1% gain on the week. Meanwhile, the sprightly tech sector helped pull the Nasdaq Composite Index to a 1.9% advance on the week.

* The 2016 FundGrade A+ best-of-the-best funds announced. Fundata Canada Inc. announced the winners of the Fundata FundGrade A+ Award for 2016. This year, 57 companies representing a total of 263 Canadian investment funds received the A+ Award at Fundata’s annual “Evening of Excellence” held on Wednesday, January 25, 2017, at the Art Gallery of Ontario in Toronto.

The FundGrade A+ Award is given annually to investment funds and managers who have shown consistent, outstanding, risk-adjusted performance through the year. The FundGrade A+ Award provides investors, advisors, and fund managers with a single, reliable, easy-to-understand fund-performance rating based on up to 10 years of history. More information and the list of 2016 FundGrade A+ Award winners can be found at www.fundgradeawards.com.

Check Fund Library’s Market Activity page regularly for active updates on key market indexes and commodities.

@FundLibrary – Follow Fund Library on Twitter for daily information and updates.

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© 2017 by Fund Library. All rights reserved. Reproduction in whole or in part by any means without prior written permission is prohibited.

The foregoing is for general information purposes only and is the opinion of the writer. No guarantee of investment performance is made or implied. It is not intended to provide specific personalized advice including, without limitation, investment, financial, legal, accounting or tax advice.

 
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