Starting over

On March 17th,  with the stock market up strong, we predicted a pullback would be coming soon.  On Thursday and Friday of last week we saw the markets fall by roughly 3%.  The  S&P 500 total return index is now down 1.19% for the year.  Granite Group Advisors has been consistent with our “fully valued” opinion based upon our sub 3% growth environment. 

Retail sales came in better than expected this morning with a rise of 1.1%. The markets should move back up again but it is earnings that always drive markets on a go forward basis.  If results come in mixed, the markets will probably see a repeat of first quarter.  At this valuation, if good corporate earnings persist, markets will have a chance to rise.  One thing for certain is that the markets will continue to be volatile. 

You can follow Granite Group Advisors on LinkedIn and learn more about our Corporate Retirement Services and Wealth Management on our Website.

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