The markets regained their footing as the Dow Jones Industrial Average, S&P 500 and the NASDAQ posted week-over-week gains at the close of the first week of the new year. The markets kicked off 2017 recognizing the New Year holiday. Trading resumed Tuesday with a surge in the Financial sector, boosting the Dow Jones Industrial Average. The gains brought the Dow closer to the 20,000 milestone than ever before. While the index didn’t break 20,000, the index did break a three-day losing streak. The non-manufacturing (service) sector remained strong in December according to the Institute for Supply Management Non-Manufacturing Index, which registered 57.2, the same as November and the highest reading for 2016. The S&P Index also posted gains on strong performance in the Telecommunications and Healthcare sectors. Wednesday saw strong performance in Consumer Discretionary stocks. Thursday’s slide down was a result of a decline in Financial stocks. Friday’s results ended in gains despite snow and sleet storms that affected the East coast. For the week, the dollar strengthened, while the yield on 10-year Treasury bonds stayed the course.
