The second week of January 2017 proved to be yet another disappointment for those focused on the Dow Jones Industrials (NYSE: DJI) and its now month-long quest to finally reach the magical 20,000 milestone, even as the Nasdaq index (Nasdaq: IXIC) hit a new record high.
Meanwhile, the S&P 500 in Week 2 of January 2017 kept bouncing along just below its week old all-time record high. Not that any of that was in any way unexpected....
It was a week in which the news to which investors reacted had very little impact on the overall course of the S&P 500. The headlines below are what stood out to us as significant during the week that was.
- Monday, 9 January 2017
- Tuesday, 10 January 2017
- Wednesday, 11 January 2017
- Thursday, 12 January 2017
- Fed can consider unwinding balance sheet when fed funds hits 1 percent: Harker
- Fed's Kaplan says 'reasonable' to debate balance sheet this year
- Fed ‘may be in better position’ to reduce balance sheet, Bullard says
- These three stories represent a trial balloon by Fed officials for how the U.S. central bank might choose to tighten its monetary policy in addition to continuing its current strategy of hiking short term interest rates. The market's reaction to these trial balloons was led to the steepening the yield curve for U.S. Treasuries on 12 January 2017.
- U.S. stocks end lower, dollar sags as Trump trades ease
- Friday, 13 January 2017
Barry Ritholtz summarized the positives and negatives reported for the U.S.' economy during Week 2 of January 2017.
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