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LPL Research Midyear Outlook 2018

LPL Research Midyear Outlook 2018

July 12, 2018

Presenting the LPL Research Midyear Outlook 2018: The Plot Thickens, packed with investment insights
and market analysis to guide you through all the action we may see in the year ahead.

When we as investors began 2018, we were tuned in to the recent fiscal policy changes that were
expected to propel economic activity and the financial markets higher in the coming year. The handoff in
leadership from monetary policy to fiscal policy was well underway as a driver of consumer spending,
business investment, and corporate profits. Instead of depending on the Federal Reserve (Fed) to move
this expansion forward, fiscal incentives are now critical for continued growth, with the new tax law
taking the lead.

Although we expect continued growth, there is also the potential for greater market sensitivity due to
the late cycle concerns that can emerge when the economy is doing well. So indeed, the plot has
thickened. But that doesn’t mean we’ve taken a turn for the worse. The underlying forces are still
forging ahead and this expansion and bull market have not been defeated. Right now, there are many
positive fundamentals, like business investment and corporate profits, supporting economic growth and
potential market gains.

Armed with the investment insights of LPL Research’s Midyear Outlook 2018, and supported by the   
guidance of a trusted financial advisor, we expect investors can remain optimistic about what’s ahead
for their investment portfolios. Read more about our forecasts and key themes to watch in the full
publication. This guidance and investment insight can benefit investors in their search for long-term success.