Are we facing another bear market? What about an emerging markets-induced global recession? Russ Koesterich doesn’t believe either development is imminent, and offers his outlook on the current market volatility and what to expect in 2016. The Federal Reserve and Goldman Sachs may not be quite as optimistic, however. In fact, Goldman Sachs has cut its year-end forecast for the S&P. CNBC covers the story. The surprise resignation of House Speaker John Boehner (R-Ohio) may have averted a government shutdown in October, but December is likely to be more contentious. Michael Townsend analyzes the legislative situation for Charles Schwab.

Is Another Bear Market Ahead?- With market volatility recently reaching its highest level since the financial crisis, investors are understandably questioning the outlook for U.S. stocks in 2015 and beyond.  Russ Koesterich, Chief Investment Officer at BlackRock, does not believe the recent volatility represents the start of a new bear market—he expects the U.S. market should finish the year higher than where it is now.  He also believes today’s valuations suggest U.S. returns may be below average over the longer term. Read more…

Goldman Cuts Forecasts For S&P 500–  Goldman Sachs cut its year-end forecast for the S&P 500 on Tuesday, citing a combination of the slower pace of economic activity in China and the U.S. and the fall in oil prices.  The U.S. investment bank cut its year-end price forecast for the S&P to 2,000 from its previous forecast of 2,100 by the end of the year.  The 2,000 forecast is 6.2% above the S&P 500 close on Tuesday of 1,884. Read more…

Déjà Vu: Possible Government Shutdown Looms–  Congress appears likely to avoid a government shutdown in October, but the real  wrangling awaits at year-end.  Michael Townsend analyzes legislative and regulatory proposals for Charles Schwab, and looks into the situation. Read more…

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

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