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Jan 21 2015

Maintaining a longer-term outlook could prove to be the best move

Market Recap:

Major averages may have closed little changed from their opening levels, but volatility was certainly a part of the landscape on Tuesday. The Dow Jones dropped as much as 150 points before rebounding to close flat as 7 of the 10 sectors of the S&P ended higher as Industrial and Technology shares soared nearly 1%. The U.S. dollar weakened slightly, as oil fell and gold and silver rose more than 1%. On the earnings front, Halliburton (HAL), IBM (IBM), and Netflix (NTFX) all beat estimates and rose sharply as a result.

Looking Ahead:

The European Central Bank is expected to announce its new bond purchase program on Thursday, and while anxiously anticipated, we do not believe there will be much of a surprise in the report and pursuant press conference. Wednesday’s U.S. mortgage applications and housing starts are likely to drive market action here in the U.S.  Given the current volatile environment for stocks and rising levels of concerns from investors, we would like to remind everyone that on balance and when taken as a whole, economic and earnings news in the United States has made significant improvements in the past few years and that while “things” are far from great, they are certainly good. As our Chief Investment Officer, Bill Krivicich, wrote in his monthly Forbes article, sticking with high-quality dividend paying stocks and maintaining a longer-term outlook will likely prove to be the best move for most (read the article here) Forbes (Krivicich)2And make sure to tune into Money Matters with Gary Goldberg this Saturday at 2:00 PM and Sunday at 11:00 AM on WOR 710 AM Radio to hear our latest economic and market analysis. Visit our website for details.   Gary’s guest this week is Richard Lustig, winner of 7 lottery grand prizes.