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Wall Street to Your Street

Nov 2018 Market Outlook: What's behind stock market volatility?

Economic growth has been stellar, corporate profits are growing, gross domestic product (GDP) growth was a robust 3.5% in the third quarter, and the current 3.7% unemployment rate is the lowest since 1969.

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Oct 2018 Market Recap: Stocks slump despite solid economic results

October has often been considered one of the most volatile months for stocks – and this year was no exception.

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View on current market decline

Global equity markets have experienced declines since the beginning of October, accelerating into their weakest performance of the month on Wednesday, Oct. 10. A multitude of factors contributed to this sell off. Trade friction, especially with China, and rising bond yields—catalyzed by stronger inflation measures and hawkish commentary about the path of future rate hikes by Federal Reserve Chairman Jerome Powell—seem to be the most notable catalysts. Other contributing factors were uncertainty over continued profit growth as the market awaits third-quarter earnings results; political uncertainty given the upcoming midterm election and its implication for policy; and finally, faltering market leadership from big technology stocks. However, a very simple reason for this sell off may be that the market was due for a pullback after a somewhat surprisingly strong recovery from the February correction—a view supported by the relative stability of bonds and spreads despite the equity market volatility.

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Oct 2018 Market Outlook: Can strong earnings growth trend continue?

It has been a banner year for corporate earnings growth through the first three quarters of 2018, with S&P 500® earnings up about 20% year-over-year in the third quarter following growth of better than 25% through the first half. We also expect strong earnings growth in the fourth quarter of about 15% to 20% year-over-year

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