Fourth Quarter 2013 Market Summary

Posted by on Jan 23, 2014 in Market Summary

In 2013, the Standard & Poor’s 500 far outperformed Wall Street’s strategists’ forecast for the year. The old adage about stock bull markets climbing a wall of worry proved true for 2013: Despite one economic bombshell after another, stocks relentlessly climbed: It started on January 1, the day personal income tax hikes kicked in. Then, Democrats and Republicans deadlocked on the federal budget and we went over the fiscal cliff, which mandated 10% across-the-board cuts in federal spending. Read more…