Market Commentary September 30, 2016
Quarterly Market Review
U.S. equities traded in a narrow range for much of the summer as investors recovered from the volatile sessions triggered by the U.K. decision to leave the European Union on June 27th. Indeed, for the first 45 trading days of the quarter, the S&P 500 index recorded only one day with a move of 1% or more. However, after the Labor Day holiday weekend, investors returned to a market focused on Global Central Bank policy, specifically the Federal Reserve.