Last month our team here at Sloy, Dahl,& Holst said that the market would head higher...and it did! We tacked on another 2-3%. There’s more good news: the market’s headed higher!
November, December, and January are typically three of the best months of the year for the market. This year, we’re going to get a tax cut between now and January. This is only going to drive corporate earnings higher. It’s also going to drive the market higher.
There are other great signs: Globally, the economy is doing better. Nationally, the economy is doing better. Consumer confidence is at an all-time high. Your home prices are the best you’ve seen in over a decade. We’re in a great spot!
And you might not believe it, but interest rates are still historically low compared to where they’ve ever been in history. We will see another interest rate bump in December. We slated for 3 bumps this year, and that will be our third. For next year, we’re looking at four interest rate bumps.
Remember what we said back in January? We said the market was going to close the year at 23,000. A lot of people thought this was a little aggressive. Yet for the first time in history, we recently crossed 23,500! I would not be surprised to see us at 24,000 or more by year-end.
2018 will be another good year. I think we’ll see some level of pull back in the next 12 months, but that will be healthy for the market. Over the next two years, we’ll have one of the greatest runs we’ve seen in market history.
As you know, our team here at Sloy, Dahl & Holst likes the emerging markets better than we like the US. And we continue to like Technology. In fact, our technology fund is up almost 50% year-to-date! We’re also overweighted in Financials. As interest rates go up, the financials are going to go up. We’re in a good spot. For now, the news is very good.
I want to wish you all a very happy Thanksgiving and a wonderful Christmas. I look forward to talking to you again in January. This is a year I don’t think I’ll forget for a long time. So thank you so much for your time, confidence, and support.
Watch the video below: