Market Recap – Possibility of Fiscal Stimulus on the Horizon

March 31, 2017 in Market Commentary by

Market Digest – Week Ending 3/31/2017

U.S. stocks closed mixed this Friday and the Nasdaq had the best quarter since 2013. Strong economic data and the possibility of fiscal stimulus under President Donald Trump have driven U.S. equities to record highs since his election. Economic data around GDP growth, jobless claims, commerce department inflation numbers, and consumer confidence levels were announced this week.

Weekly Returns:
S&P 500: 2,362.72 (+1.44%)
FTSE All-World ex-US: (+0.20%)
US 10 Year Treasury Yield: 2.39% (-0.02%)
Gold: $1,250.60 (+0.3%)
USD/EUR: $1.065 (+0.13%)

Major Events:
• Monday – TransCanada’s Keystone XL Project received permission from the Trump administration to continue construction work
• Tuesday – Consumer confidence levels soared to their highest level in 16 years.
• Wednesday – U.K. Triggers article 50 to begin formal negotiations to leave the European Union (EU)
• Thursday – The final look at 4Q Gross Domestic Product showed a quarter-over-quarter (q/q) annualized rate of growth of 2.1%, adjusted up from the 1.9% expansion
• Friday – Commerce Department report pointed to the biggest annual increase in inflation in nearly five years

Our take:
As we kick off spring cleaning plans this year, make sure to get organized. Things change, sometimes often and sudden. It’s important to have your financial information in one place so it can be easier to deal with the unexpected – good and bad. Here is a list of items and documents that you should have easily accessible.

Key Contacts:
1. Family member’s names and contact information
2. Primary care Physician
3. Financial Advisor
4. Trust Attorney
5. Accountant
6. Dentist
7. Veterinarian

Personal Documentation:
1. Social Security card
2. Birth Certificate
3. Passport
4. Marriage certificate
5. Safe and Combination
6. Safe deposit box and key

Personal item ownership:
1. Real Estate
2. Car or motor vehicle title
3. Any other titles of ownership

Set up a basic file with the key contact information and place it in drawer. You can leave instructions on where you have placed your personal documentation and ownership. Make sure to tell your key contacts where you put the file.

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Craig Birk, CFP®

Craig Birk, CFP®

Craig Birk is a member of the Personal Capital Advisors Investment Committee. He also serves as Vice President of Portfolio Management. Prior to Personal Capital Advisors, he was an integral leader within the portfolio management team at Fisher Investments. During Craig’s time there, the company increased assets under management from $1.5 billion under management to over $40 billion. His responsibilities included risk management, portfolio implementation oversight, and management of all securities and capital markets research analysts. Mr. Birk graduated from the University of California at San Diego and has earned the Certified Financial Planner® designation.

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