2016 Market Year in Review: Zombie Market Couldn’t be Killed
Looking back on the year in the economy and markets and trying to figure out what it all means can be tricky; the full impact might take many months or longer to assess. But one thing is striking: The market showed resilience. Despite more than a few surprises, the market couldn’t be killed off.
Stocks recovered from a start-of-the-year free fall. They bounced quickly back from a global panic following June’s Brexit vote, and they seemed to yawn through an intensely acrimonious presidential election.
In the background, corporate earnings were blah for the first 9 months of 2016. Interest rates didn’t move for the first 11 months. The U.S. economy plodded along, upwardly and slowly. A relative low unemployment rate held steady. Oil prices moved up, but were still well below historical highs. Inflation remained in hiding. Panic didn’t set in. But neither did euphoria.
“It shows how difficult it is to predict how markets will react, or if markets will react, to almost any kind of news or information,” said Joe Correnti, senior vice president of brokerage product for Scottrade. “Don’t let the noise distract you. Develop your own investing plan and stick to it, regardless of what you’re hearing or reading day to day.”
Here are some of the key financial numbers.
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