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Market Update: 01-16-18

Jerris Wealth Management Group LPL Research Weekly Market Update

GLOBAL EQUITY MARKET OUTLOOK FAVOR U.S. AND EM

John Lynch Chief Investment Strategist, LPL Financial | Jeffrey Buchbinder, CFA Equity Strategist, LPL Financial

We favor U.S. and emerging market (EM) equities for tactical global allocations. After reviewing our thoughts on the U.S. equity markets in last week’s Weekly Market Commentary, we thought we’d expand our 2018 equity outlook with a focus on global markets. As discussed in our Outlook 2018: Return of the Business Cycle publication, from a regional perspective, we favor the U.S. and EM over developed foreign markets broadly, although the improving outlook in Japan is noteworthy.

Market Update: 01-08-18

Jerris Wealth Management Group LPL Research Weekly Market Update

WILL A STRONG 2017 CARRY OVER INTO 2018?

John Lynch Chief Investment Strategist, LPL Financial | Jeffrey Buchbinder, CFA Equity Strategist, LPL Financial

We close the book on a solid 2017 for U.S. stocks while tipping our caps to a strong start to 2018. Today’s Weekly Market Commentary will provide a high-level performance recap for 2017 that we hope will be helpful for year-end client conversations, in addition to a summary of our equity market views for 2018 following passage of the new tax law.

Market Update: 01-02-18

Jerris Wealth Management Group LPL Research Weekly Market Update

INVESTMENT IMPLICATIONS OF THE NEW TAX LAW: EQUITIES AT A GLANCE

John Lynch Chief Investment Strategist, LPL Financial | Ryan Detrick, CMT Senior Market Strategist, LPL Financial

After more than a year of political posturing and investor anticipation, Congress finally approved a $1.5 trillion tax cut, the most sweeping U.S. fiscal overhaul since 1986. The 2017 Tax Cuts and Jobs Act was signed into law by President Trump on December 22, 2017, meeting his pledge to deliver tax reform before Christmas. The complex 1,000-page bill features changes that are intended to spur economic activity through a reduction in both individual and corporate tax rates, and simplify the tax code by eliminating or trimming a variety of deductions and exemptions. In this week’s commentaries, we look at the likely impact of the final bill on the economy, monetary policy, and the financial markets in the coming years.

Market Update: 12-18-17

Jerris Wealth Management Group LPL Research Weekly Market Update

WHEN OVERBOUGHT IS BULLISH

John Lynch Chief Investment Strategist, LPL Financial | Ryan Detrick, CMT Senior Market Strategist, LPL Financial

The bull market continues to march higher. The S&P 500 Index is near one of the most overbought levels in history and this has many wondering how much longer the rally can continue. The longer-term technical indicators continue to look strong, but sentiment is flashing some warning signs suggesting market volatility could finally be heating up.

Market Update: 12-11-17

Jerris Wealth Management Group LPL Research Weekly Market Update

CORPORATE BEIGE BOOK UPBEAT AS EXPECTED

John Lynch Chief Investment Strategist, LPL Financial | Jeffrey Buchbinder, CFA Equity Strategist, LPL Financial

Companies remained generally upbeat during the third quarter earnings season, based on the LPL Research Corporate Beige Book Barometer. This is hardly surprising, given actual earnings results were good again and estimates of future earnings held up relatively well as companies provided forward-looking guidance.

Market Update: 12-04-17

Jerris Wealth Management Group LPL Research Weekly Market Update

2018 STOCK MARKET OUTLOOK: DOUBLE-DIGIT RETURNS?

John Lynch Chief Investment Strategist, LPL Financial | Jeffrey Buchbinder, CFA Equity Strategist, LPL Financial

Back to business: fundamentals to drive stock market gains in 2018. With a focus on business fundamentals and the impact of fiscal policy, the return of the business cycle means that earnings growth may have to shoulder most, if not all, of the load if stocks are going to produce attractive returns in 2018. The good news is the S&P 500 Index may be well positioned to generate earnings growth at or near double-digits in 2018 thanks to a combination of better economic growth and potentially lower corporate tax rates, despite some possible downward pressure on profit margins from higher wages. We also expect the stock market’s price-to-earnings (PE) multiple, at 19.5 times trailing earnings, to hold steady (or drop slightly) in 2018, as the economic cycle ages, inflation picks up modestly, and central bank policy tightens further*. Risks to our stock market forecast include Congress failing to pass a tax agreement (a low risk after Senate passage over the weekend), a potential policy mistake by a central bank, and political uncertainty around the midterm elections.

Our Team

Susan Jerris

Susan
Jerris

LPL Registered Principal 
Email Susan
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Anthony Roble

Anthony
Roble

LPL Registered Administrative Assistant
Email Tony
CA Insurance License #0K61923
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Diana Esperon

Diana
Esperon

Administrative Assistant
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