The stock market has started October on a bumpy path. Many global issues remain unresolved, but seasonal forces, sound fundamentals, and breakthroughs on the trade and geopolitical1 fronts could help sustain the S&P 500 Index at record highs. Volatility can be uncomfortable, but we remain confident enough in domestic fundamentals that we would recommend suitable investors use any potential pullbacks to consider buying or rebalancing equity positions
Corporate earnings growth has ground to a halt, but we think better times lie ahead. While tariffs and ongoing trade uncertainty could delay improvement, we remain optimistic that some progress on trade will be forthcoming and earnings growth could pick up over the coming quarters.
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