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Bob Carey
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  US Stocks Ended Jan. 26, 2018
Posted Under: Weekly Market Commentary

 
The S&P is off to a strong start in 2018 as the index has returned over 7.5% since the beginning of the new year. Information technology companies, such as large caps Microsoft Corp and Alphabet Inc, have been driving the market. These two companies along with Facebook Inc will be closely watched next week as all three will release quarterly results. Since the beginning of earnings season, 117 companies have reported and 91 have beat analyst estimates. Next week 109 names in the S&P 500 are slated to report. AbbVIe, Varian Medical Systems, and ResMed were among the top five best performing stocks in the S&P 500 last week. Strong earnings have been a theme in the first month of 2018, although the news cycle is still dominated by almost any news coming from Washington. During this time, US stocks have posted higher levels in the face of concerns about trade comments by the Trump administration. Uncertainties around the President's "America First" policy has put pressure on the dollar since he took office last year. The President eased some of the fears in his speech at the World Economic Forum in Davos, Switzerland last Friday. He touted America's falling unemployment rate and increased business and consumer optimism while inviting the world to do business with the United States. Looking to next week, the President will try to use the momentum of avoiding a prolonged government shutdown and a strong economy to make his case for his successes at his first State of the Union address on Tuesday.
Posted on Monday, January 29, 2018 @ 7:55 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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