Each month we highlight voices we respect from around the marketplace. Here’s what they’re saying…
- A near-term recession looks unlikely. Capital markets have embraced a less-bearish outlook for the global economy in recent weeks, with global equities reaching a 20-month high in most places and an all-time high in the U.S. The liquidity backdrop has improved, political uncertainty should recede, China should move from a headwind to a modest tailwind and a weakening dollar will indicate that the world is healing, helping ease global financial conditions. Read more… – Robert C. Doll, CFA, Chief Equity Strategist, Nuveen
- The U.S. economy has held steady as robust consumer spending helps offset weakness in manufacturing activities and business investment. Third-quarter gross domestic product (GDP) grew at a better-than-expected 1.9% on an annualized basis, just below 2% in the second quarter. U.S. job growth slowed less than expected in October, underpinning the resilience in consumer spending. Looking ahead, there are some tentative indications that the deceleration in manufacturing may be ebbing. We see no signs of a meaningful turnaround in growth yet, but expect easier financial conditions – the result of an easing in monetary policy and a potential lull in trade tensions – to filter through to the broader economy over 6-12 months. As a
resultwe see only limited risk of a U.S. recession over the next year. Read more… – BlackRock Investment Institute
- A Friday [11/1] rally spurred by
a strong monthly jobs reporthelped stocks move solidly higher for the fourth consecutive week. The large-cap S&P 500 Index and the technology-heavy Nasdaq Composite Index reached new intraday and closing highs… Stock-specific factors drove much of the market’s moves as investors digested the season’s busiest week of third-quarter earnings reports… the majority of S&P 500 companies that have reported to date have beat analyst estimates. Read more… – T. Rowe Price
As always, we continue to believe that one’s circumstances and risk profile should determine the appropriate mix of investments, and not media headlines. Please contact us if you ever have any questions or concerns about your accounts or any news you hear.
Past performance may not be indicative of future results. Therefore, no current or prospective client should assume that the future performance of any specific investment, asset class, or investment strategy (including the investments and/or investment strategies recommended by the adviser), will be profitable or equal to past performance levels. Information in this commentary is gleaned from third party sources, and while believed to be reliable, is not independently verified.