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The votes are in: The UK leaves the European Union

Headlines about ‘Brexit’ have been top of news over the past several weeks, and in a past blog post, we addressed how the British referendum will affect the economy. As of last night, the votes are in, determining the fate of the UK and the European Union. In a very close vote (approximately 51 to… Continue reading →

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What is Brexit and how will it affect the economy?

Over the past several weeks, headlines about ‘Brexit’ have been circulating in anticipation of the British referendum on June 23. The British people will vote on Thursday of this week on whether to leave the European Union (EU). If they do vote to leave, the UK people are effectively saying they don’t want to play… Continue reading →

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Podcast: The Fed will not raise rates – why we aren’t surprised

Announced today in the June FOMC meeting, the Federal Reserve will not raise interest rates for the time being. Here at Fort Pitt, we are not surprised by this news – with negative jobs numbers and bigger financial issues worldwide, the Fed has its hands tied at this point. Click on the podcast below to… Continue reading →

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Economic and market outlook: Lackluster start to 2016…what’s next?

While we do not see a U.S. recession on the horizon, recent economic data have been lackluster. Expectations for first quarter earnings remain low, but are mostly “baked into” share prices. We’re forecasting only 1 to 2 percent earnings growth for remainder of the year. Dollar strength is yesterday’s market story. Year-over-year profit comparisons get… Continue reading →

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The good, bad and ugly of negative interest rates

The New York Times recently published a great explainer piece on negative interest rates in Europe and Asia, “In the Bizarro World of Negative Interest Rates, Saving Will Cost You.” Essentially, rates have gone negative in certain countries in order to stimulate struggling economies. However, in our view these negative interest rates will likely have… Continue reading →

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