The third quarter earnings season is also underway, and there’s hope of solid results relative to expectations. Mid-single digit earnings growth would be a good outcome considering insurers’ losses from Hurricanes Harvey and Irma and disruptions to economic activity in Houston and the Florida coast.
President Trump nominated Jerome H. Powell to chair the Federal Reserve, bypassing Janet Yellen for a second term. Powell is expected to stay the course on monetary policy if the economy continues its steady growth.
While it has been a relatively quiet year for markets, with no major pullbacks in the broad stock market it remains important to monitor events that could be catalysts for change. In the midst of the fourth quarter, and with the busy holiday season approaching, Lake Michigan Investment Services will remain mindful of these developments without letting them distract us from long-term goals.