Equities have had another stellar year in 2013, with the Dow and S&P 500 on pace for the best annual gains since 1995 and 1997, respectively. A near-term pullback to relieve extended sentiment conditions would neither be a surprise nor unwelcomed. The gains came in the face of ongoing macro challenges, illustrating again that stocks often like to climb a "wall of worry." Heading into the New Year, economic growth appears to be gaining some traction and we are seeing some developments that we think will help contribute to a still-positive equity environment in 2014. Moreover, despite regional differences, an improved global growth outlook in 2014 is likely to have a positively reinforcing impact economically and could improve confidence for businesses, consumers and investors.
Source: Schwab's Chief Investment Strategist Liz Ann Sonders
Source: Schwab's Chief Investment Strategist Liz Ann Sonders
