Market Update - November 2017
The markets have been moving higher as it appears that Income Tax reform may be a possibility. In a government where gridlock, twitter and party politics seems override any attempts to do what is right for the average American family, tax reform would be a big step toward helping the economy.
The increasing hostilities with North Korea and Iran continue to weigh on the Geo-political front, but stronger corporate earnings, employment and improvements in productivity seem to be outweighing the fear.
It is said that the markets are healthiest when they are climbing a Wall of Worry. With sex scandals hitting the entertainment industry, politicians and the corporate boardrooms, there is plenty of concerns to go around. With terror suspects, illegal immigrants and military actions clouding the news, worry remains at a consistent and substantial level.
But the markets are building their own Wall of Opportunity. Deregulation, stronger economic numbers and high consumer confidence is creating a demand for optimism and positive results. Many big and small businesses could benefit greatly from income tax reduction. This will put more money in their pockets which will allow them to hire more, build more, buy more, add newer equipment and expand their operations.
Even President Trump's Border Wall will help expand the economy. It will create construction jobs, building materials purchased and stronger law enforcement efforts along our borders for many years to come.
Mortgage rates, computer and television prices and even the price a gallon of milk are lower this year than a year ago, while US and World stock markets have moved substantially higher over the same period.
On the last day of November the US markets had their best day of the year. The Dow exploded through $24,000 and the other indices followed. I am a little concerned that we are moving too high too fast and the markets are poised to take a break but, success with the tax legislation in Washington DC will add more fuel to an already burning campfire.
As always, we are keeping our eyes on the news, markets and economic variables that affect our financial future. We will monitor conditions and take actions as needed if and when they are warranted.
If you have any questions, comments or would like to schedule an appointment, please contact us. We hope you are ready for some snow and a Wonderful White Christmas in WNY. If we keep moving forward, 2018 could be another very good New Year.
Keith Maderer has been a Financial, Investment and Tax professional in the Buffalo-Niagara region for over 30 years. He helps individuals and families to Clarify their needs and goals, Solve their problems, and Simplify their life to avoid the common pitfalls that get in the way of enjoying life and retirement.
He is an author, an entertaining and humorous speaker that enjoys captivating audiences with stories, anecdotes, and messages that inspire and motivate others to achieve their goals.
He has been married for over 30 years and has 5 adult children which contributes to his great sense of humor. For more information please visit: http://SFTAweb.com, or http://KeithMaderer.com or visit his Amazon Author Page.
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