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.
Kraft Heinz is splitting into two companies a decade after they joined in a massive merger that created one of the biggest food companies on the planet. One of the companies will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands like Oscar Mayer, Kraft Singles and Lunchables. When the company formed in 2015 it wanted to capitalize on its massive scale, but shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz's net revenue has fallen every year since 2020.
About 780,000 pressure washers sold at retailers like Home Depot are being recalled across the U.S. and Canada, due to a projectile hazard that has resulted in fractures and other injuries among some consumers.
President Donald Trump has fired one of two Democratic members of the U.S. Surface Transportation Board to break a 2-2 tie ahead of the board considering the largest railroad merger ever proposed.
Ford is recalling more than 355,000 of its pickup trucks across the U.S. because of an instrument panel display failure that’s resulted in critical information, like warning lights and vehicle speed, not showing up on the dashboard.
