A certified retirement financial advisor, Darcy Bergen provides clients with a host of tax management services designed to minimize liabilities and grow wealth. Maintaining a close watch on macro trends, Darcy Bergen offers regular market updates at www.bergenfinancialgroup.com.
A late November 2016 post focused on gains during an abbreviated Thanksgiving trading week when the Dow, S&P 500, and NASDAQ all achieved all-time highs. With this round of gains capping a year of sustained growth, cumulative gains reached 7 percent.
Another area of strength was the U.S. dollar, with positive news on the U.S. economic front bringing the currency ever closer to its European counterpart. If Deutsche Bank predictions hold, the dollar will reach parity with the Euro by mid 2017 and may even surpass the Euro’s value.
In the commodities sphere, oil continued to slide, with its price falling to $47.24, as uncertainty reigned on whether producing nations could coordinate efforts to curb production. That said, the price is substantially higher than the $30 per barrel 10-year low reached in early 2016. Some forecasters expect prices to stabilize as members of OPEC and other major oil exporters achieve harmony in policy going forward.