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April 2017 Market Update


  • Major U.S. stock markets rose slightly on the month as volatility fell to its lowest levels since mid-2014
  • Cyclical sectors such as automotive and airlines continued to benefit from positive global economic momentum
  • The S&P 500 finished the month on a positive note, posting a 0% gain
    • Top Sectors: Technology (+2.5%), Consumer Discretionary (+2.4%)
    • Bottom Sectors: Telecom (-3.3%), Energy (-2.9%)
  • 40% of the S&P 500’s return last month came from four technology stocks: Facebook, Amazon, Netflix, Google
  • Growth continued to outperform Value in April by 5%, leads by 8.3% year-to-date
  • International developed countries increased 4% last month and now lead the S&P 500 by 3.5% YTD
  • Emerging markets are the best performing asset class of 2017, rising 7% on the month and 14.42% YTD
  • Long-Term Treasury yields were little changed in April, the 10-year Treasury yielded 2.29% at month end
    • The decline in long term interest rates has continued to flatten the yield curve in 2017


  • The economy created 211,000 jobs in April, an improvement from the slump in March
  • The unemployment rate dropped to a low of 4.4%, but hourly earnings barely beat inflation growing at 2.5%
  • The economy grew at a paltry 0.7% pace during the first quarter
    • The biggest contributor to the economy, personal consumption, advanced 0.3%, the slowest since 2009
  • Conversely, first quarter earnings reported from 85% of the companies in the S&P 500 have shown 15.3% growth from the first quarter of 2016**

*Merrill Lynch**Bloomberg***Wall Street Journal. Charts are shown for illustrative purposes only. Respective services provided by ARGI Investment Services, LLC, a Registered Investment Adviser, ARGI CPAs and Advisors, PLLC, ARGI Business Services, LLC, and Advisor Insurance Solutions.  All are affiliates of ARGI Financial Group.