The investor optimism that rose with the DOW has been tempered recently. As expected, the stock market’s sideways movement has led to increased investor caution. Liz Ann Sonders and her team at Schwab take a look at how the recent numbers will affect the U.S. and international markets. The Federal Reserve’s Stanley Fischer spoke recently about possible changes to Dodd-Frank  and the Fed’s response to fiscal policy. Vanguard founder John Bogle says the fiduciary rule “doesn’t go nearly far enough”.  ThinkAdvisor summarizes some of his ideas about the rule, which requires financial firms to put their clients’ interests first when investing on behalf of their retirement accounts.

Schwab Market Perspective: Not So Fast!-  Patience is key for investors, with political realities colliding with hoped-for reforms. Elevated earnings and economic expectations could lead to a pullback or more sideways action. Ultimately, Schwab believes fiscal stimulus is coming—although perhaps later than anticipated—and the bull market in U.S. stocks will continue. International economic growth is stable, but does not appear to be accelerating, leading Schwab to favor U.S. stocks over developed international stocks at the present time. Read more…

‘Significant Uncertainty’ About Fiscal Policy Under Trump: Fed’s Fischer–  U.S. Federal Reserve Vice Chair Stanley Fischer said there was significant uncertainty about U.S. fiscal policy under the Trump administration. He believes the Fed will be strict in meeting targets of creating full employment and getting inflation to 2 percent. Read more…

Bogle: ‘Fiduciary Principle Will Live On’ No Matter What–  A day after a federal district judge in Texas ruled in favor of the Labor Department’s fiduciary rule, former Vanguard founder and CEO John Bogle wrote that the rule “doesn’t go nearly far enough”. He is concerned that it applies only to retirement accounts and ignores 75% of the assets individual investors own. Read more…

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John R. Day, Bill Ennis, Stephanie Davidson and Matt Heller

Disclosure – The articles mentioned in Mid Week with Day & Ennis are for information and educational purposes only. They represent a sample of the numerous articles that the firm reads each week to stay current on financial and economic topics. The articles are linked to websites separate from the Day & Ennis website. The opinions expressed in these articles are the opinions of the author and not Day & Ennis. This is not an offer to buy or sell any security. Day & Ennis is under no obligation to update any of the information in these articles. We cannot attest to the accuracy of the data in the articles.