Summer 2018 Was No Time For A Siesta

Another quarter of landmarks is in the books.  It seems that a year’s worth of headlines was crammed into the space of only 91 days.  Consider the partial list of Q3 headlines below:

  • Apple is first $1 Trillion public company
  • Elon Musk tweets about going private?!
  • US Bull Market officially longest ever
  • Trade war intensifies
  • Cannabis Stocks go on a monumental tear
  • The Fed continues toward “normalization”

Despite a “noisy” environment, the US markets pushed higher, with each of the major US equity indices reaching new highs.  Regardless of the threatening headwinds, the US market has continued to press higher in a rather orderly and resilient manner.

Other parts of the world, however, have shown less resilience.  Concerns in Italy, coupled with the looming challenges of Brexit have begun to cast doubts on the timing and scale of Europe’s recovery.  The strength of the US dollar, along with the continuing trade rhetoric, have caused a rotation out of Emerging markets.

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