From net neutrality to new tax legislation, there are many factors that could impact the markets in 2018. Commonwealth Financial Network CIO Brad McMillan and Icon Advisors CIO Craig Callahan share their outlooks for the year ahead.
"December has been messy, with people trying to guess the effects of net neutrality and the tax bill," says Callahan. "But we expect the leadership from last year to continue into next year." Callahan says he expects the market to move up about 10 percent in 2018 from a very neutral pricing seen today.
"I think we've already seen all the good things that we are going to see here," says McMillan. "Even though this will be positive in the short run, it's going to be a one-off effect." McMillan says after we get past the next quarter, he doesn't expect to see much impact from tax reform in the markets.
Nvidia on Wednesday became the first public company to reach a market capitalization of $5 trillion. The ravenous appetite for the Silicon Valley company’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023.
Chris Williamson, Chief Business Economist at S&P Global, breaks down September’s CPI print and inflation trends, explaining what it means for markets.
A big-screen adaptation of the anime “Chainsaw Man” has topped the North American box office, beating a Springsteen biopic and “Black Phone 2.” The movie earned $17.25 million in the U.S. and Canada this weekend. “Black Phone 2” fell to second place with $13 million. Two new releases, the rom-com “Regretting You” and “Springsteen — Deliver Me From Nowhere,” earned $12.85 million and $9.1 million, respectively. “Chainsaw Man – The Movie: Reze Arc” is based on the manga series about a demon hunter. It's another win for Sony-owned Crunchyroll, which also released a “Demon Slayer” film last month that debuted to a record $70 million.
The Federal Aviation Administration says flights departing for Los Angeles International Airport were halted briefly due to a staffing shortage at a Southern California air traffic facility. The FAA issued a temporary ground stop at one of the world’s busiest airports on Sunday morning soon after U.S. Transportation Secretary Sean Duffy predicted that travelers would see more flights delayed as the nation’s air traffic controllers work without pay during the federal government shutdown. The hold on planes taking off for LAX lasted an hour and 45 minutes and didn't appear to cause continued problems. The FAA said staffing shortages also delayed planes headed to Washington, Chicago and Newark, New Jersey on Sunday.
