The Standard and Poors' 500 index closed at 2083 on 12/31/2015. Today's close was 2127. Presumably, this sideways movement resulted from cross-currents that left the equity markets with no clear direction. Describe in detail how each of the following have affected equity price? this year. Presumably some of these have buoyed the valuations while others have negatively affected equities. Knowing that EPS is the driver of equity valuation, comment on how the factors listed below affect EPS and thus the S&P 500 Index. Labor Market conditions...non-farm payrolls, unemployment rate, initial claims for insurance Federal Reserve decisions. one 2015 (Dec) movement on federal funds rate and discount rate Global Economic Growth....slowdown in China, no growth in Europe, modest US. growth Energy and commodity price stability leading to de- and dis-inflation globally Exchange Rate movements... .dollar strength vis a vis Euro. yen. Sterling Modest U.S. corporate profit growth