This week, we sent this communication to all Ferguson Wellman and West Bearing clients in response to heightened market volatility. We felt that this message was also appropriate to reiterate for our weekly blog.
New Leadership and The Vaccine Pivot
Last November, Pfizer announced a 95 percent efficacy of their COVID-19 vaccine. Since that time, there has been a notable shift in leadership within the stock market.
One More Time
Stocks finished the last week of December relatively flat resulting in a 20+ percent total return for the S&P 500 for 2017. Interest rates were steady with the yield on the 10-year U.S. Treasury ending the year at 2.41 percent, down slightly from a year ago.