Monday Morning Outlook

New Narrative Alert: Fed Chief Jerome Powell is to blame for the volatility in stocks. Back on October 3rd, with stock markets near their record highs, Powell said "we're a long way from neutral."

New Narrative Alert: Fed Chief Jerome Powell is to blame for the volatility in stocks.

New Narrative Alert: Fed Chief Jerome Powell is to blame for the volatility in stocks. We think the news that really drove the market higher last week was the report that economy-wide pre-tax corporate profits were up 10.3% from a year ago (and up 19.4% after taxes – thank you tax cuts!). Focus on fundamentals, not post-event explanations.

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