I trust that you had a great holiday season with family and friends and a happy start to the New Year. All the best in 2018!
This Past Week; Equity markets began the year on the same bullish note that defined 2017 with pretty much all worldwide markets being positive. The TSX was up close to 1% while US markets had their best opening week in a number of years and were up over 2%.
2018 – Our analysts see a very low chance of recession historically speaking. While we never know what can happen, at this point our main recessionary indicators are not even yellow never mind red. We are all green for go or growth. One of my favorite and most seasoned analysts, DS Portfolio Strategist Jim Allworth, likes to say we can predict recessions but, we can’t predict pullbacks. They are a normal part of a Secular Bull Market. Given everything we know at this point in time, we wouldn’t be surprised at all to see a normal market pullback in 2018 (especially since we did not have one in 2017). We would expect though, that it will be a buying opportunity and markets would move upward and onward from that. There are certainly no promises, guarantees, or assurances. There are different geographical regions and markets, and potential uncertainties so we never know what regional markets and the year will give us. Having said that; our analysts believe we should give equities the benefit of the doubt.
Global Insight WEEKLY
January 4, 2018
The Weekend/Weather; Temperatures have changed considerably and it is great to see weather warm enough to actually get snow. We could possibly see a couple of positive days later in the week and then back to negatives on the weekend.
The weather should be much nicer to enjoy some winter activities. Have a great week.
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