April 2017 Market Recap

(For the month ended April 30, 2017.)

Stock price indexes moved higher virtually across the board in April. Of the major benchmarks, the largest gains were shown by the normally more volatile NASDAQ Composite. It also touched a new high during the month. Congressional leaders averted a federal government shutdown with a last-minute budget compromise. And several major U.S. airlines’ shares were dogged by customer service controversies after cell phone videos of confrontations with airline personnel went viral. One especially visible incident occurred on a United Continental Holdings’ flight from Chicago. During the week following the incident, the company’s shares dropped from 71.52 to 67.75, or 5.3%.

 

Through 4/30/17* April YTD 1-Year 3-Year Annualized 5-Year Annualized Closing Value
S&P 500

0.9%

6.5%

15.4%

8.2%

11.3%

2,384.20

Dow Jones Industrial Average

1.3%

6.0%

17.8%

8.1%

9.6%

20,940.51

NASDAQ Composite

2.3%

12.3%

26.6%

13.7%

14.7%

6,047.61

Source: DST Systems, Inc. The S&P 500, Dow Jones Industrials, and NASDAQ Composite are unmanaged indexes. It is not possible to invest directly in an index. Index performance does not reflect the effects of investing costs and taxes. Actual results would vary from benchmarks and would likely have been lower. Past performance is no guarantee of future results. Not responsible for any errors or omissions.

*Price only. Does not include dividends.

Economy Watch The advance estimate of the economy for the first quarter showed annualized growth of 0.7%. That’s lower than the pace a year prior and sharply lower than the rate of last summer. The Commerce Department said the slow growth was due to reduced government spending and lower business investment in inventory.

Consumer Indicators The unemployment rate reported for March was 4.5%. The Consumer Price Index, meanwhile, declined 0.3% during the same period.

Bond Market Update Long-term interest rates remained stable during April. The yield for the benchmark 10-year Treasury bond varied by no more than two-tenths of a percentage point during the period.