Market Update | October 2017

Market Update | October 2017

Market Update

Steady progress on many levels has U.S. and World Markets pushing higher.

Making it through September and October without a market correction is something that does not happen often. Some of the worst corrections we have experienced have happened in the month of October.

We have seen plenty of reasons for a correction, but so far, positive corporate earnings and better than expected economic data have prevailed.

Stock prices are driven by expectations and earnings. Earnings have continued to improve and there are expectations that tax reform will be coming soon. The gradual roll back of regulations on businesses seems to be helping small and large businesses to bolster their bottom line.

We are now going into what is historically one of the best seasons for the markets, the Holiday season. From Halloween to Thanksgiving, Christmas and New Years to Valentine's day, the markets are generally driven higher by consumer spending and retail sales.

While much of this spending is shifting from in-store to online, the economic effects are significant. UPS, US Postal and Federal Express continue to increase revenues while consumers are saving time, money, gas mileage and frustration from waiting lines.

Today the Federal Reserve left interest rates unchanged at historically low levels and the economies around the world continue to show signs of improvement.

While I do believe a market correction is inevitable, its severity could be milder than expected. There are many positive forces entering the picture. Lower taxes, less regulation, increased infrastructure spending, shrinking unemployment and low interest rates all seem to pulling the economy upward and in the same direction.

Steady gains are good unless they get out of hand and we begin seeing “Irrational Exuberance”. If that begins to appear, I will become more defensive.

For now, we remain optimistic and will continue to monitor the markets and economic progress closely. Should you have any questions or comments, please feel free to contact us.


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:, or or visit his Amazon Author Page.

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