From now through December 16th we will be collecting gifts and toys to donate to the John Theissen Children's Foundation. For every gift you bring us to donate, we will wrap one of YOUR holiday gifts. Call our office at 516-349-5555 to schedule an appointment to drop off your donation and have your gifts wrapped.
As predicted, the market will experience volatility today as it absorbs the unexpected results of last night's election. As the day moves along, I will be receiving much more commentary from the various investment companies we do business with.
Over the past several weeks, we have been busy meeting with portfolio managers from Blackrock Investments, Wells Fargo, Goldman Sachs, and Invesco, among others, to gather their thoughts on the eventual election outcome one way or the other. Today’s volatility will be a result of Donald Trump being more of an unknown and a wildcard as to how he will govern.
Ultimately, the market will absorb the news of the election, and start to refocus on earnings and the growth of the economy. The silver lining might be that the market was predicting almost a 100 percent chance of an interest hike in December if Clinton won. Over the next few days, it is likely we will see that reality put on hold as the market gets used to what a President Trump administration will try and accomplish.
This past July, England experienced a similar shock to its system when its citizens voted to leave the European Union (Brexit). All global markets sold off for two days as the news settled in and subsequently rebounded right after. I am not implying the same will happen here, but it is a very good context to keep in mind.
I hope that you will find the following links informative:
America Decides: What Election '16 Could Mean For Your Portfolio (Franklin Templeton Investments)
America Decides: A Vote For Change (Franklin Templeton Investments)
Point of View | You're Hired! Donald Trump Elected President of the United States (Janus Capital Group)
As always, thank you for your trust and confidence.