January – 2018 Newsletter

Throughout 2017, the stock market was driven mainly by hope and optimism over the Republican tax plan. The plan was finally signed into law in December, which reasonably should have given the market its biggest monthly boost of the year. Yet, each of the major indexes finished with smaller gains than in November. In fact, on the very day the Senate finally approved the tax bill, the market experienced a slight pullback, which was probably an acknowledgment that the tax plan’s value has already been priced into the market.