published: February, 05th 2018
Quick Market Update
So, unless you were under a rock, you probably saw that the Dow dropped about 1200 points today, and the S&P 500 shed 100. That brings total returns for the year to roughly -.92% for the S&P 500 and -1.42% for the Dow.
Obviously this sell off has been intense, however I would reiterate the following points – this is being driven by stronger economic data and worries over how rapidly interest rates rise versus any concern over the health of the economy. Bull markets have corrections, and what we saw today (in conjunction with last week) puts us squarely in that territory, but until we see some cracks in the underlying economic data we are not changing our “steady as she goes” investment stance.
Rick Wedell is not affiliated with LPL Financial
The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful. Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk including loss of principal.