Are US stocks reacting rationally?
When we step back to look at the bigger picture, we still see more reasons to be positive than negative and are optimistic about the US equity market. The US economy has continued to improve and has moved past the severe winter impact we saw in the first quarter of 2014. Economic data have been showing strength in key areas such as manufacturing, consumer spending and employment, all indicating to us that the US economy is on the right track, and in the middle of an economic expansion.