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Quarterly Market Review Q3 2018

As we take a closer look at performance over past few months, it’s clear that friction between politics and market fundamentals persisted in the third quarter. However, as midterm elections approach, the equity markets posted gains in what has historically been a volatile third quarter. From the perspective of growth alone, the outlook is still quite positive. Data for the U.S. economy demonstrates substantial strength with continuing momentum from strong growth and profits.

As anticipated, the U.S. economy saw a mid-year surge in growth with second-quarter Gross Domestic Product (GDP) estimated to have increased at an annual rate of 4.2%, topping 4% for the first time since the third quarter of 2014. The expansion, which is on the verge of becoming the longest since 1900, has also been one of the weakest, averaging only 2.2% annually.

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