Investment Outlook

 

Economic Outlook Highlights

April 2018     |  Economic and Financial Outlook Highlights   (PDF/New Window)
April 2018    |  Economic and Financial Outlook Highlights  (PDF/New Window) April 2018 | Economic and Financial Outlook Highlights
Deferred business spending and recent investment-oriented tax cuts will continue to reinforce a typical late-cycle rotation toward investment-led growth during the balance of the year. The consensus second-quarter growth forecast is centering on 2.8%-3% early in the period, up from the first quarter’s better-than-expected 2.3% rate. Solid gains in inflation-adjusted income and profits, rising operating rates and job-market confidence are among spending’s drivers supporting second-half growth close to its second-quarter pace during the latter part of the year, out-weighing slower growth abroad, plus a squeeze on housing affordability and household wealth.
View an archive of Economic Outlook Highlights, brief summaries of the economic and financial market outlook along with issues affecting stocks and bonds.


Briefings and Commentaries

June 8, 2018 – Market Comment (PDF/New Window)
June 8, 2018 | Market Comment (PDF/New Window) June 8, 2018 | Market Comment
Great moderation II. Upbeat fundamentals outlasted policy and geopolitical uncertainties in sending the S&P 500 to less than 3-1/2% of its January 26 high in a third straight weekly rise. Among the more notable themes during the benchmark's broad, fairly deep gains over the three-week span across 9 of 11 sectors and 90 of 125 industry groups: remarkable, retailing-led strength in the benchmark's con¬sumer discretionary sector joined by an earnings-driven rise in tech powerful enough to stanch the usual rotation toward economically sensitive sectors during periods of strong growth. Cyclicals have been sandbagged by middling performance of industrials, hurt by trade-policy concerns and by higher fuel costs weighing on trans¬portation stocks, countering strength in consumer cyclicals. Tech’s rally has played itself out in further gains by Russell 1000 Growth to a 17-1/2 year high against its more cyclically oriented Value counterpart by the end of last week.
View an archive of briefings and commentaries that provide detailed analyses of the current economic climate and investment conditions.

Gary Schlossberg

Senior Economist

Gary SchlossbergAs senior economist, Gary Schlossberg is responsible for assessing the economic environment and providing input to the equity and fixed-income portfolio management teams at Wells Capital Management.

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