A few years back, The Patriot Ledger pulled together a group of local business folks to comment on economic and business issues facing our region and the country. I am grateful to serve with these distinguished business leaders. The recent question posed to the Economic Advisory Panel dealt with “where’s the smart money headed next”?
Here’s what I had to say:
“Depends what market you are referring to: The U.S. stock market may be posting record highs, but the S&P 500 is up just shy of 3 percent for the year. Things will keep bouncing around through year end. As far as the economy, we don’t expect much growth. The economy continues to improve, but is still very weak. First-quarter GDP was just +0.1 percent, and revisions could push that number negative. We believe the low interest-rate environment will make equities the logical choice for investors and drive the market even higher.”
It’s always fun to see what each person had to say. Take a read and share where you think the stock markets and Wall Street will be through year end.