Donald Trump is inheriting one of the strongest economies that has been handed to a new President in recent history (based on 3Q GDP). Since the 1970's, only George H.W. Bush and Jimmy Carter assumed the office with higher GDP growth rates. Further, investors have been cheered by Trump's anticipated business-friendly ambitions on taxes, trade and regulations and have driven U.S. stocks to record highs. The S&P 500 Index gained 3.8% for the fourth quarter of 2016 and 12.0% for the year. Small stocks, as measured by the Russell 2000, rose 8.8% for the quarter and surged 21.3% for the year.
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