We continue to look for the U.S. gross domestic product (GDP) to expand near 2.5% in 2017, although potential delays in passing major fiscal policies introduce some risk to the downside. This below-trend pace is still somewhat stronger than the trajectory that the economy has experienced throughout the...
We forecast 6–9% returns for the S&P 500 Index in 2017. As investors increasingly trust that the economy can stand on its own without the need of monetary policy support, business fundamentals should take over as the primary market engine and corporate profits will take on increasing importance. We...
Master limited partnerships (MLP) appear to be a natural way to invest in the changing energy landscape. MLPs are exclusively focused on energy infrastructure in the United States and Canada. North American energy production has become a dominant factor in the price of oil and in the North...
What are we telling our investors? Focus Focus on fundamentals. It was an up-and-down week for stocks as market participants became increasingly worried that the Trump administration’s agenda was in danger following the latest news surrounding the Russian investigation. On Wednesday (May 17), the S&P 500...
Dear Valued Investor: Another earnings season is in the books and it was a good one. With more than 90% of S&P 500 companies having reported first quarter 2017 results, S&P 500 earnings are tracking to a solid year-over-year increase of more than 14% (Thomson Reuters...
Stock markets, bond markets, the economy, policy — some years they push and pull on each other lightly as markets follow their own path. ...