Prior to the extended holiday weekend for domestic markets, the S&P 500, U.S. large company stock index, advanced in 8 of the past 9 days reaching new all time highs more than once.  The index reached over $20 trillion in aggregate market capitalization for the first time due to these new all time highs.  The European Union raised growth forecasts for 2017; they expect growth in the 19 country Eurozone to be 1.6% up from 1.5% this year while growth in the 28 country bloc was higher than expected at 1.7% during 2016.  The European economic recovery is anticipated to take hold, as the three years 2016-2018 are the first since 2008 where all member countries are forecasting GDP growth.

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