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Bob Carey
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  US Stocks Ended Dec. 2, 2016
Posted Under: Weekly Market Commentary
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U.S. stocks retreated this week after the post-election rally ended last Friday. The S&P 500 returned -0.91% for the week and 9.45% YTD. Small cap stocks pulled back after a three week rally as the Russell 2000 traded down -2.4%. Energy stocks could not boost the rest of the index declines, most notably technology and consumer stocks. Wednesday, OPEC announced a production cut with crude jumping over $4 and continued to rise though the end of the week. Markets were keyed into Friday's employment report which came in at consensus expectations and should provide enough information for the Federal Reserve's December meeting to keep the Fed on its projected path for a rate increase. Transocean Ltd., an offshore driller, turned in the best performance in the S&P 500 Index with a 14.49% gain. The company moved higher after OPEC announced a production cut. The next two best performers were Helmeric & Payne and Marathon Oil Corp with returns of 14.15% and 11.79%, respectively.
Posted on Monday, December 5, 2016 @ 7:49 AM • Post Link Share: 
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These posts were prepared by First Trust Advisors L.P., and reflect the current opinion of the authors. They are based upon sources and data believed to be accurate and reliable. Opinions and forward looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security.
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