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We’re encouraged by the strength in consumer spending, but economic growth needs to be broader.

We are maintaining our year-end fair value target of 3,000 even though the index is very close to that level.

Stock valuations remain favorable in our view, even with the S&P 500 Index near our year-end fair value target of 3,000.

Stocks Rise, Rates Fall as Investors Position for Lower Rates

We expect slightly positive earnings growth in the second quarter, with substantial drag from falling technology sector earnings.

Financial markets are focused on U.S. monetary policy, but the Federal Reserve (Fed) is only part of the story.

U.S. economic data moderated in June as trade tensions plagued the global economy.

Labor market conditions rebounded last month from a disappointing May, easing market worries about the impact of trade tensions on corporate hiring.

Even after such a strong first half of this year, we think stocks may have more left in the tank.

Trade tensions and market volatility couldn’t stop the United States’ record-setting economic expansion.