A strong economy, a low unemployment rate, a low level of layoffs, and a strong stock market all played at least some role in pushing consumer confidence to its highest reading since late 2000.
In observance of Labor Day, our office will be closed on Monday, September 3rd, 2018. We will resume normal business hours on Tuesday the 4th. We hope all of our clients and their families have a happy and safe extended weekend!
For those interested in a little light reading over the weekend, please keep reading.
On a weekly, monthly, or quarterly basis, the ebb and flow of the tide will sway market sentiment. We see shares rise or fall in response to the tide.
Earlier in the year, the tide, or shorter-term risks, pulled on shares.
We’ve seen several periods in recent years when the tide turned against the bulls, temporarily putting up roadblocks.
China worries, geopolitical instability, Brexit, and European financial tremors were just some of the hurdles over the last nine years.
When the new risks failed to materially slow the economy and profit growth, favorable fundamentals have reasserted themselves.
It was widely reported last week that the current bull market, which began March 2009, took the title as the longest-running bull market on record. On Wednesday, the broad-based S&P 500 Index3 extended its run to 3,453 calendar days (CNBC), taking the crown from the long-running bull market of the 1990s.