After posting six consecutive weekly gains, the stock market saw its third weekly decline of 2017. However, just like the other two weekly down-ticks, this week's retreat was minor.
The stock market continued its relentless push higher, which resulted in the sixth consecutive weekly advance for the S&P 500 and Dow Jones Industrial Average, cruising past 21,000.
Tuesday produced more highs for the major indices as investors didn't shy away from Fed Chair Yellen's less dovish testimony before the Senate Banking Committee.
The stock market secured its third consecutive weekly advance with the S&P 500 rising 0.8%. The benchmark index posted gains in four of the first six weeks of 2016 while the two down weeks in the middle of January shaved 0.25% off the index.
The past week was full of earnings data, economic data, and commentary from two major central banks, but the market shrugged off the busy event calendar, remaining near record levels.
Regardless of political views or feelings about the election result, there’s a fascinating case study on stock market behavior here, and it is worth unpacking what happened purely from an investment perspective.
March 10, 2017 Weekly Market Recap