Financial advisors’ confidence in both the economy and the markets had its highest jump so far this year as survey respondents absorbed the results of the mid-term elections and more positive economic data.
REACTION FROM OUR PANELISTS
“Slow but steady growth is here for a few more years with low inflation and low interest rates. The stock market has made its run since 2009 and may still creep forward but the outsized gains are probably finished for a few years. More pressure is on individual companies to perform or see a meaningful drop in their stock price,” John Pottle, Pottle Financial Services.
“With the new structure between Congress and the White House we might even be able to keep the government from interfering and see even better market performance,” Karl L. Hicks, Leonard Financial.
“In 2015, we expect to see a decrease in the unemployment rate, increased consumer and government spending, a stronger dollar and an increase in the demand for imports,” Levar Haffoney, Fayohne Advisors.
“Assuming we end 2014 with a double-digit increase in stock performance, this will be the third consecutive year of double-digit gains. Out of 20 plus instances of this happening since 1900, only once did we have a fourth consecutive double-digit year. Sixty percent of the time year four was negative,” Malcolm Polley, Stewart Capital Advisors.
“Although lower commodity prices are positive for industry growth, the international credit markets in conjunction with low consumer confidence causes me to have a neutral outlook,” Richard Bryson, Premier Financial Advisory Services.