Market Update

Hi All,

This past week is a reminder that the markets don’t always go straight up.  We have had a record 587 days without a 5% correction, so investors may feel surprised in the past couple of days to see their account values go temporarily down, due to this long stretch of low volatility and persistent gains.  However, in my On It With Offit newsletter last month, I said “we expect to see an upturn in volatility and a return of more normal market corrections, compared to 2017” but also “the U.S. economy has accelerated over the past several quarters and we expect that economic momentum to carry into 2018.  We are still in the midst of a bull market for stocks”

While corrections are never pleasant, they have been and will always be, a normal occurrence for the equity markets. Fundamentals remain solid and the recent pullback has not changed our belief that we remain in a secular bull market. We are not advocating any re-allocations based on recent market action.

As always, please call with any questions.

Sincerely,
Ben Offit, CFP®

The opinions expressed in this commentary are those of the author and may not necessarily reflect those held by Kestra IS or Kestra AS. The material is for informational purposes only. It represents an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. It is not guaranteed by Kestra IS or Kestra AS for accuracy, does not purport to be complete and is not intended to be used as a primary basis for investment decisions. It should also not be construed as advice meeting the particular investment needs of any investor. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security.