Market Ends Mid-Year Up, But Roily

The Dow Industrial is up 8 percent during the first six months of 2017. The 21,349 close is only slightly behind the high of 21,528 hit on June 19. Dow is joined by a host of indexes showing their best years since 2013 (the S&P 500 up 8.2%). The tech-heavy NASDAQ Composite was up 14.1 percent, its best year since 2009, the post-great recession recovery. The strong start has been worldwide. The STOXX Europe 600 was up 5 percent and the Nikkei up 4.8 percent. The rally picked up markets in Chile (up 12%), Spain (up 12%) and India (up 16%).

Strong earnings, growing economies and until recently, accommodating central banks.

But the Dow, S&P and NASDAQ all posted a final down week. Central banks have begun tightening money supplies led by the Feds and President Trump’s political troubles continue with health care reform removed from a Senate vote on the last day in June.