September 2017 Market Recap

(For the month ended September 30, 2017.)

Signs of political, social, and economic upheaval around the world in September did little to deflect the upward march of stock prices on U.S. markets. All three major benchmarks touched record highs during the month and closed out the month at or near those lofty levels. The Standard & Poor’s 500 and NASDAQ Composite posted their latest records at the month’s end close. The Dow Jones Industrials peaked on September 20 at 22,413 before drifting lower. Indicative bond yields remained low.

S&P 500 Dow Jones Industrial Average NASDAQ Composite
September 1.9% 2.1% 1.0%
YTD 12.5% 13.4% 20.7%
1-Year Annualized 16.2% 22.4% 22.3%
3-Year Annualized 8.5% 9.6% 13.1%
5-Year Annualized 11.8% 10.8% 15.8%
Closing Value 2,519.36 22,405.09 6,495.96

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 Final figures show the economy grew at an annual rate of 3.1% in the second quarter after inflation was accounted for. That compared with 1.2% in the first quarter. Corporate profits increased $14.4 billion.

Consumer Indicators Inflation continues to be low. The broadest measure of consumer prices, the Consumer Price Index, rose 0.4% during August, 1.9% for the year that ended in August. The average price of gasoline rose 6.3% during the month, while prices for food declined.

Bond Market Update Benchmark interest rates remained low. The 10-year Treasury constant maturity yield was 2.31% as the month drew to a close; the 30-year rate was 2.87%.