Schwab Market Perspective: Smooth Sailing for Stocks?

Schwab Market Perspective: Smooth Sailing for Stocks?
by Liz Ann Sonders, Senior Vice President, Chief Investment Strategist; Jeffrey Kleintop Senior Vice President and Chief Global Investment Strategist, Charles Schwab & Co, Inc.; Brad Sorensen, CFA, Director of Market and Sector Analysis, Schwab Center for Financial Research 7/7/2017

Summer is often a time to go sailing, but is it going to be a smooth ride for stocks or are storms coming?
Key points
• Stocks have been drifting along near record highs and background conditions remain relatively positive in the near term. But seasonal tendencies remain a risk and volatility has picked up a bit, so investors should be on alert for a summer pullback.
• The U.S. economy continues to glide along, with subdued inflation, providing what typically has been a good environment for stocks. Bond yields have ticked higher and some commodities have recovered, but it’s too early to say that the reflation story is regaining credence.
• Economic growth around the world has been improved and stock markets have gained but international outperformance is largely attributable to dollar weakness.

 

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