Today we wanted to start by saying a special thank you to our very own, Felicia Ludlum, and all the veterans out there that have served our country. Felicia joined the military straight out of high school and served 8 years in the Army. We are thankful for you all and the many sacrifices you have made. Happy Veterans Day from us all at Fi Plan Partners.
The election is finally over and we can now focus on what truly matters in the market. As expected, the Democrats took control over the House and the Republicans remain in control of the Senate. The market does not like surprises and thankfully it didn’t get any last week. On the other hand, the market doesn’t mind gridlock. With Democrats in the House and Republicans in the Senate, we expect gridlock to be the story over the next two years. We had some gridlock a few years ago when Obama was president and he had a Republication congress. During that time the market did fine so we are confident that will be case this time as well.
Over the weekend Saudi Arabia announced that they were going to cut exports by 500 million barrels a day. The rest of OPEC didn’t get behind Saudi Arabia on the cut back decision but they will all have a meeting on December 6, 2018 to discuss the situation. It’s obvious that the cartel doesn’t like how low the price of oil has gotten. What we are hoping for is for the price of gas to be lower during the upcoming holidays but we might not see that. We plan to watch this carefully and will continue to keep you updated.
Fi Plan Partners is an independent investment firm in Birmingham, AL, serving clients across the nation through financial planning, wealth management and business consulting. Fi Plan Partners creates strategies in the best interest of their clients using both fee based investing and transactional investing.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.
Economic forecasts set forth in this presentation may not develop as predicted.
No strategy can ensure success or protect against a loss.
Stock investing involves risk including potential loss of principal.
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