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Market wrap Feb. 10, 2017: Indices close at record highs
4/22/2018 4:17:38 PM
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By Fund Library News Wire  | Friday, February 10, 2017


By Mike Keerma

The major North American stock indices posted strong advances on the week, closing at record highs on Friday, following Thursday’s announcement from U.S. President Donald Trump about forthcoming tax reforms, which may give a boost to corporate earnings. Subsequent gains in the financial sector gave a boost to the main indices, which closed the week at record highs. The S&P 500 Composite Index advanced 0.8% on the week, while the Nasdaq Composite Index gained 1.2%, as markets maintained the momentum spurred by better-than-expected quarterly earnings reports. Toronto’s S&P/TSX Composite Index also closed at a record high, against a backdrop of firm crude oil prices and a strong jobs report from Statistics Canada, showing 48,000 additional positions created in January.

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

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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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