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Many people are not aware of it, but a medical revolution is underway. There is now technology that can make it possible to stop disease before it starts by identifying risk factors in the human body long before they impact health.
Before we begin our usual weekly commentary, we wanted to take a moment to honor the victims of Sunday's terrible attack in Las Vegas. Though details are still scarce, it is the most devastating mass shooting in U.S. history. Our thoughts are with the victims, their families, and with the community that now must cope with the aftermath of the tragedy.
After briefly stumbling the week of September 4, domestic indexes notched significant gains last week and hit record highs. By Friday, the S&P 500 exceeded 2,500 for the intraday record. Each of the indexes gained well over 1% for the week, with the S&P 500 adding 1.58%, the Dow jumping 2.16%, and the NASDAQ increasing 1.39%.
Last week, the markets closed for Labor Day, and in the subsequent four trading days, all three domestic indexes gave back some recent gains. The S&P 500 declined 0.61%, the Dow lost 0.86%, and the NASDAQ slid 1.17%. International stocks in the MSCI EAFE faired better, ending Friday up 0.78% for the week.
Last week gave a number of things for both investors and non-investors to think and worry about. From North Korea's missiles to Hurricane Harvey's devastation to an unemployment uptick, the headlines were busy. Yet, despite these circumstances, U.S. stocks posted gains again this week and the NASDAQ ended Friday with a new record high and 2017's best weekly performance.
From domestic unrest to international terrorism, last week provided many headlines that could easily rattle the markets. While we did see days with volatility and declines, the major indexes remained relatively flat. For the week, the Dow was down 0.84%, the S&P 500 dropped 0.65%, and the NASDAQ fell 0.64%.
Last week, rising tension between North Korea and the U.S. rattled the world's markets. As the two countries traded tough words, concerns escalated and markets reacted emotionally to the news. Though stress is building internationally, we remain committed to focusing on the market fundamentals that drive long-term value.