The stock market has performed really well over the last 2 weeks.
Midterm elections in the U.S. have finally come to a close, so we believe we're finally in an environment where we can get some stability.
The U.S. consumer hasn't been this confident since 2000 and people are making more money through wage gains.
Our view is that the financial markets are in prime position to have a solid rest of the year.
The information provided should not be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities and should not be considered specific legal, investment or tax advice. The information provided does not take into account the specific objectives, financial situation or particular needs of any specific person. Diversification does not ensure a profit or protect against a loss in a declining market. There is no guarantee that any particular asset allocation or mix of funds will meet your investment objectives or provide you with a given level of income. Forecasts or projections of investment outcomes in investment plans are estimates only, based upon numerous assumptions about future capital markets returns and economic factors. As estimates, they are imprecise and hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results. Investing entails risk including the possible loss of principal and there is no assurance that the investment will provide positive performance over any period of time.
The stock market is in reference to the S&P 500 index. An index is unmanaged, does not reflect management or trading fees, and one cannot invest directly in an index. The stock market's performance was in reference to the 5.40% total return of the SPX Index on Bloomberg Terminal using TRA for the date range of 10/29/2018-11/9/2018. U.S. consumer confidence data was gathered from the Consumer Confidence Survey of The Conference Board. Their release for October 2018 data showed the Consumer Confidence Index (CCI) reading of 137.9. The report states that the last time these levels were seen were in the Fall of 2000 (September 2000 specifically with a CCI reading of 142.5). Wage gains were in reference to the average hourly earnings for private workers advancing 3.1% compared to a year earlier. This was in reference from a Bloomberg article on October's labor market report titled, "U.S. Payrolls Rise More Than Forecast as Wage Gains Hit 3.1%" by Katia Dmitrieva.