Missed our third quarter webinar? Download the replay as we discuss the coming quarters and what factors could have an impact on your portfolio.
Original Broadcast: Tuesday, October 26, 2021 @ 1pm PT
During the webinar, we discussed:
Review of the latest quarter and the YTD results of 2021
- The third quarter showed the first signs of resistance to the recovery with September being the first down month for the broad market in 8 months due to economic surprises waning.
- For now, inflation looks “transitory,” but labor market slack holds the key to whether it becomes more persistent.
- Sentiment, including margin debt and CEO confidence, suggest some contrarian market risk.
Strong Recovery In Place
- 17 million jobs added back
- 11 million job openings (all-time record)
- Strong consumer & business credit health and conditions
- Ongoing stimulus from government-induced liquidity (>$5 Trillion)
- Including $850 billion in direct payments to citizens
- S&P 500 earnings projections have risen +45% since May 2020
- Risks include higher tax rates, inflation, Fed taper/tighten, valuation