Market Perspective provides timely insights into current market events and explains what the latest events might imply for your portfolio and your investment decisions.
• After the unrelenting move higher over the past five months, the market is becoming stretched to the upside from a short-term perspective.
It is an election year, and emotions are running high.
Our base case outlook remains that we are in a bull market that kicked off in March.
The S&P 500’s second quarter gain ranks as its best quarterly return since 1998 and fourth highest since 1950.
The near-term earnings and valuation picture is filled with uncertainty; however, earnings trends appear to be turning the corner after cuts reached the most extreme level since 2009.
After a tremendous rise over recent months, stocks saw the greatest one-day decline since mid-March.