Another Record for 2017

As the year winds down, the S&P 500 Index is on pace to set a record we’ve never seen. Per Ryan Detrick, Senior Market Strategist, “Incredibly, 2017 could be the first year in history that the S&P 500 has gained every single month of the year on a total return basis.” Not to be outdone, this could be a record 14th consecutive month of gains (on a total return basis), and an incredible 21 of the previous 22 months have been higher.

There isn’t much more we can say about 2017 that we haven’t already said. It was a great year for equity bulls, but it also came with historically low volatility. Turning to 2018, we are looking for a continuation of the bull market led by a strong resurgence in global earnings, but we expect a big pickup in volatility as well.

IMPORTANT DISCLOSURES

The opinions voiced in this material are for general information only and are not intended to provide or be construed as providing specific investment advice or recommendations for any individual security.

Past performance is no guarantee of future results.

The economic forecasts set forth in the presentation may not develop as predicted.

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The S&P 500 Index is a capitalization-weighted index of 500 stocks designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries. The S&P 500 is an unmanaged index than cannot be invested into directly

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