A Note from the Team
As capital market strategists, we recognize that investors' expectations have improved since the presidential election. Now it appears that events in Washington are throwing a "cold towel" on the probability of a significant tax cut or a meaningful infrastructure package occurring this year. Due to these developments, market expectations are being adjusted.
From a seasonal standpoint, the summer months tend to provide weaker returns for stocks than other times of the year. Additionally, history shows the second half of a new President's first year in office tends to provide a choppy stock market environment.
We call attention to this not to alarm folks - but if we see some form of summer chop in stock prices, given what we know today, we are positioned to use this type of price volatility as a purchasing opportunity.
More next month…
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