Apple of my eye
Happy Valentine Day. The S&P 500 has risen only 40.9% percent of the time on Valentine’s Day, compared to a historical daily rate of 52.1%. (CNBC)
The S&P 500 now has a market cap of $20 trillion crossing that mark for the first time ever. (CNBC) It is just 30 stocks but the exchange-traded funds that track the Dow Jones Industrial average have pulled in $2.6 billion in new assets so far in 2017, more than any other U.S. stock ETF. (WSJ)
The S&P 500 hit its 2016 low on February 11th and has since gained more than 26% since then. Over the past year, we’ve seen a massive global stock market rally, with financials, energy, and materials leading in the U.S. A year ago there were calls to “sell everything”. Another example why the market timers’ hall of fame” is an empty room in Paducah, KY. (LPL Research)
Japan Q4 gross domestic product data of plus 0.2% and 2016 GDP of up 1.0%, were modestly disappointing. Most telling was the miss in exports.
Apple posted a record closing high yesterday, which was last set a year ago in February 2015. (CNBC)
S&P 500 is up 2 and the NASDAQ is up 2. MSCI International Index is higher.
Oil is up 50 cents at $53.41 a barrel. Global demand for oil could outdo the ten-year average in 2017 as the health of the world economy improves. (OPEC)
Gold is up $8 at $1234 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.