Beyond Brexit; Earnings and Elections

Little more than a week ago, stocks fell precipitously as the United Kingdom voted to leave the European Union. The voters spoke and subsequently sent global markets into a tailspin with the S&P losing almost 6% in just two days. However, in spite of this unexpected outcome, virtually all of the losses were recovered by the next Friday as though nothing had happened. So, we reach the halfway point of 2016 with stocks only marginally higher than they were at the beginning of the year. At this juncture, stock prices remain uneven amid an ever changing Federal Reserve policy, mixed macroeconomics, earnings data, and political and financial turmoil following the results of Brexit.

 

 

 

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