Many advisory firms talk about their array of tools and resources. Every firm that is worth talking to
has them. The difference, however, is what the advisor does with them. Do they have the insight to use
them properly? How well do they apply them to help you? ACG’s insights may help provide a sense of
our ability to help you achieve success, as you define that term.
“Most kitchens have the same spices in the spice rack. That does not mean everyone is a good cook.”
– anonymous
Despite the Delta variant, inflation fears, supply chain disruptions, and uncertainty in Washington on spending and tax policies, the economic recovery from the pandemic meltdown remains intact.
After losing about 5% in September, the Standard & Poor’s 500 stock index has rebounded in the last three weeks and closed at a new record high on Thursday.
The 60 economists surveyed in early-October by The Wall Street Journal expect the expansion to extend over the five quarters ahead. The consensus forecast is that the growth rate for the third quarter of 2021 will land at 3.1%, followed by 4.8% growth in the current quarter, with 4..2%, 3.8%, and 3.2% growth rates expected in the first three quarters of 2022.
Based on the consensus forecast of economists surveyed by The Journal shown in the dotted red line, the economy is expected to be back on its long-term growth trajectory, shown in the gray line, a year from now -- as if the pandemic never happened.
The Standard & Poor’s 500 stock index closed Friday at 4,544.90, one-tenth of 1% lower that the all-time closing high it had hit on Thursday. The S&P 500 was up +1.63% from last week. The index is up +68.04% from the March 23, 2020, bear market low.
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