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Quarter-End Insights

Our Take on the First Quarter

Stocks resumed their rally in 2013 as the continued economic recovery, an accommodative Fed, and the resolution of some fiscal issues buoyed the market.

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After a brief pause at the end of 2012, stocks continued their rally in 2013 on the back of an accommodative Federal Reserve, progress in Washington, and signs of a continued economic recovery.

The broad stock market, as represented by the Morningstar U.S. Stock Market Index, rose 11%. The breadth of the rally since the heart of the financial crisis is remarkable. Stocks have now increased over 6% on average annually over the last five years. The Dow Jones Industrial Average and S&P 500 reached new all-time highs (in nominal terms at least) in the quarter.

Jeremy Glaser does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.

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