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Yesterday, the S&P 500 Index was down for the day with a close of 2278.87 (0.09%) with the three best performing sectors being healthcare, utilities and real estate.
In checking the markets this morning as I write Europe is up, Asia-Pacific is up with the exception being Hong Kong and in the States the futures are pointing for stocks to be up and government bonds to be down.
Old Skeet's market barometer has a current reading of 147 which indicates that the S&P 500 Index has now moved back into the fair value zone from recently being a touch overvalued. Morningstar's FairValue Graph reflects that stocks are currently about 3% overvalued.
Major Asset Classes | January 2017 | Performance Review By James Picerno @ capitalspectator.com Most markets around the world continued to rise in 2017’s opening month, building on last year’s broadly positive close. Leading the way higher in January: emerging-market stocks (MSCI EM), with foreign high-yield bonds in second place (Markit Global ex-US High Yield). Last month’s bottom performer: US real estate investment trusts via MSCI US REIT, which is unchanged so far this year.
Travel bans and Mexican walls can't dull the love investors have for emerging Christopher Langner Bloomberg Gadfly Money managers plowed more than $1.5 billion into exchange-traded funds that purchase emerging-market stocks and bonds last week, the most since August. The MSCI Emerging Markets Index has rallied 5.6 percent this year, on course for its best January since 2012. Those returns also help to better explain the country breakdown: Commodity stocks led the charge in Brazil, Poland and Peru, while tech firms spurred positive advances in South Korea.It's a salient lesson at a time most investors have their eyes glued to headlines about Donald Trump. Focus on fundamentals and try to ignore the noise. https://www.bloomberg.com/gadfly/articles/2017-01-31/drowning-out-the-trump-din
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By James Picerno @ capitalspectator.com
Most markets around the world continued to rise in 2017’s opening month, building on last year’s broadly positive close. Leading the way higher in January: emerging-market stocks (MSCI EM), with foreign high-yield bonds in second place (Markit Global ex-US High Yield). Last month’s bottom performer: US real estate investment trusts via MSCI US REIT, which is unchanged so far this year.
http://www.capitalspectator.com/major-asset-classes-january-2017-performance-review/
Travel bans and Mexican walls can't dull the love investors have for emerging
Christopher Langner Bloomberg Gadfly
Money managers plowed more than $1.5 billion into exchange-traded funds that purchase emerging-market stocks and bonds last week, the most since August. The MSCI Emerging Markets Index has rallied 5.6 percent this year, on course for its best January since 2012.
Those returns also help to better explain the country breakdown: Commodity stocks led the charge in Brazil, Poland and Peru, while tech firms spurred positive advances in South Korea.It's a salient lesson at a time most investors have their eyes glued to headlines about Donald Trump. Focus on fundamentals and try to ignore the noise.
https://www.bloomberg.com/gadfly/articles/2017-01-31/drowning-out-the-trump-din