Markets & Economy

The Economy: October 2017

THE ECONOMY: As of October 2017

Typically one of the worst months of the year for stocks, this past October was anything but. The S&P 500 rose 2.33%, bringing its year-to-date gain to nearly 17%. The technology sector continued its winning ways, with the NASDAQ up 3.61% for the month and just over 26% thus far through 2017. Not to be outdone, emerging market equities rallied as well, and have now delivered 32.26% on the year! President Trump announced his nomination of Jerome Powell for Federal Reserve Chair beginning in 2018. Mr. Powell has similar views on monetary policy compared to the outgoing Janet Yellen, so we don’t expect many changes to current course of policy in the near-term.