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Bob Carey
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  US Stocks Ended Jan. 20, 2017
Posted Under: Weekly Market Commentary

Stocks moved lower this week and rebounded on Friday as the Dow Jones Industrial Average closed out the week at 19,827, down 58 points from last week. Financial stocks were the worst performing sector this week in the S&P 500 as inflation and dollar concerns crippled the sector on Tuesday. The biggest move came on Thursday when the S&P 500 lost 0.36% after comments by Mario Draghi calling for Germany to stay calm while the European Central Bank continues to add stimulus to the Euro region. The increased stimulus added to inflation concerns as the dollar has weakened for the past four consecutive weeks. Stocks rose on Friday as Donald Trump was sworn in to become the 45th President of the United States. Oil also rose on Friday to $52.42 per barrel after sliding lower each day during the week. Consumer Staples led the S&P 500 for the week after favorable results from Proctor & Gamble Co. Telecommunication Services stocks also had a good week after AT&T announced growth in pay-TV customers for the first time in seven quarters due to its new live streaming service. Netflix, the leader in online streaming, announced it added a record number of new customers in the fourth quarter which demonstrates how the market is moving to an on-demand programming standard. CSX Corp., a freight transportation company, turned in the best performance in the S&P 500 Index with a 14.25% gain. The company moved higher on news that outgoing Canadian Pacific CEO Hunter Harrison is teaming up with an activist investor to help turn around the company. The next two best performers were Skyworks Solutions and NRG Energy Inc. with returns of 13.02% and 10.34%, respectively.
Posted on Monday, January 23, 2017 @ 8:05 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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