|Liz Ann Sonders, Jeffrey Kleintop, Brad Sorensen – Charles Schwab
Party Like its 2017!
Summary: A great stock market start to 2018 has been driven by the expectation that the economy will continue to grow at a solid clip and that tax reform will boost earnings. The Schwab team cautions investors who are eager to jump head-on into the markets. Investor sentiment, typically a contrarian indicator, has risen to an all-time high, and the positive effects of fiscal reforms may already be priced into the market. Underlying fundamentals are still strong, but investors should prepare for more volatility as the bull market continues to age.