(315) 624-7300 / Email Us
Ascent Wealth Partners
  • Home
  • Investing
  • Planning
  • 401(k)
  • Knowledge
  • Team
    • Brad Kowalczyk
    • Mark Moshier
    • Scott McCartney
    • Doug Bissonette
    • Neil Edmonds
    • Joe Summa
    • Nancy Kowalczyk
    • Chris Lai
    • Tim Welchons
    • Steve Basile
    • Connie Benson
  • My Account
    • Schwab Login
  • Contact Us
  • Form-CRS
Ascent Wealth Partners
  • Home
  • Investing
  • Planning
  • 401(k)
  • Knowledge
  • Team
    • Brad Kowalczyk
    • Mark Moshier
    • Scott McCartney
    • Doug Bissonette
    • Neil Edmonds
    • Joe Summa
    • Nancy Kowalczyk
    • Chris Lai
    • Tim Welchons
    • Steve Basile
    • Connie Benson
  • My Account
    • Schwab Login
  • Contact Us
  • Form-CRS
Home Chris Lai Market Currents- 10/04/2017
Back Home

Market Currents- 10/04/2017

byAscentadmin inChris Lai posted onOctober 4, 2017
0
0
Market Currents- 10/04/2017

Market Currents

 

  • Holding Steady. September – historically the worst month of the year – brought little in the way of stock market weakness.  The year thus far has been marked by historically low volatility.  Although there was plenty of news, including devastation from hurricanes and strained relations with North Korea, the markets mostly shrugged it off.  With the global economy slowly chugging along, and corporate earnings remaining healthy, major stock indices produced modest gains for the third quarter.

 

  • Economic Expansion. The U.S. entered into its longest period of economic expansion in the 90s, lasting exactly 10 years.  We are currently in our 8th year of economic expansion, the second longest.  The age of the ongoing expansion prompts questions of sustainability.  We note that previous expansions typically do not die of old age.  On the contrary, there is enough evidence to suggest that the global landscape is getting better.  Economic momentum is becoming more comprehensive, from housing to consumption to manufacturing and services.  Nearly all countries (94% globally) are generating positive year-over-year economic expansion, and more than half (61%) are experiencing growth acceleration.

 

  • Central Banks.  Against this positive economic backdrop, global central banks have indicated that they want to gradually reduce the level of monetary policy stimulus in place.  We believe European Central Bank’s balance sheet growth will begin to slow, and the U.S. Federal Reserve’s will most likely shrink, albeit at a glacial pace.  Though, as noted, expansions typically do not die of old age, the Federal Reserve policy has frequently been a counter-cyclical force.

 

  • Tax Reform President Trump proposed a sweeping tax reform that will broadly cut taxes, especially for corporations, in an effort to stimulate higher GDP growth.  The plan right now is heavy on concepts but short on details, but as with any legislative reform, there will be winners and losers as the deal is negotiated in Congress.  The impasse in Washington may have led many investors, us included, to be skeptical on the prospects for a major tax overhaul.  However, we recognize that even a modest change in the status quo could be positive for equities.

 

  • Reasons for Optimism. The resiliency of stocks continues, but risks of a pullback exist with signs of investor complacency and heightened political and geopolitical uncertainties.  However, it is the health of the economy that shapes long-term trends.  Absent a shift in macro drivers, we think global markets can grind higher, supported by growth trends forming overseas, and with low interest rates everywhere.  Valuations are on the higher side, but we believe they can be sustained, and even climb further, especially if corporate profits and earnings continue to rise.
Share:

Previous

2017 Recent Updates

Next

Market Currents- 12/04/2017

Related Posts

Our Facebook Thoughts Part Deux
July 27, 2018
Our Facebook Thoughts Part Deux
No Comments
Market Currents- 02/18/2016
February 18, 2016
Market Currents- 02/18/2016
No Comments
Market Currents – 3/14/22
March 14, 2022
Market Currents – 3/14/22
No Comments

Leave a Comment Cancel reply

Your email address will not be published. Required fields are marked *

Archives

  • March 2023
  • February 2023
  • January 2023
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • January 2021
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • October 2017
  • September 2017
  • July 2017
  • May 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • August 2016
  • July 2016
  • June 2016
  • April 2016
  • February 2016
  • January 2016
  • November 2015
  • September 2015
  • July 2015
  • January 2015
  • November 2014
  • September 2014
  • May 2014
  • October 2013
  • June 2013
  • November 2012
  • May 2012
  • March 2012

Recent Posts

  • What Is Your Cash Doing For You?
  • Market Currents – 2/7/23
  • Market Currents – 1/12/23

Contact Us

  • Address
    NEW HARTFORD: 89 Genesee Street | New Hartford, NY 13413 | 315.624.7300

    ELMIRA: 1225 W. Water Street, Suite 1 | Elmira, NY 14905 | 607.734.2002

    SARATOGA: 16 Lake Avenue | Saratoga Springs, NY 12866 | 518.306.4220
  • Home
  • Investing
  • Planning
  • 401(k)
  • Team
  • Contact Us
  • Terms of use

Recent Posts

  • What Is Your Cash Doing For You? March 7, 2023
  • Market Currents – 2/7/23 February 7, 2023
  • Market Currents – 1/12/23 January 12, 2023
  • Strategizing For 2023 January 6, 2023

Login To Your Schwab Account

Copyright © 2023 Ascent Wealth Partners. All Rights Reserved.