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  1. P/E expansion?

    Despite a relentless rally which has led to extended prices and indicators, investors continue to have an appetite for stocks. After a long winning streak was snapped on Thursday, stocks resumed their winning ways on Friday with some small to moderate gains. The Dow gained 4-points but the Nasdaq had another solid day gaining 0.4%.

S&P 500 (C fund)
Dow Completion (S fund)
EFA (I fund)
Bonds (F fund)