Gene Goldman: June 25, 2019

Mid-Year Market Outlook

Despite Global Trade Concerns, Markets Have Room to Run




Gene Goldman, CFA

Chief Investment Officer and Director of Research, Cetera Investment Management


As we approach mid-year, a number of forces are creating volatility in global markets. Probably the biggest concern is the ongoing U.S.-China trade dispute.


Officials from both nations have exchanged barbs and threatened to prolong the trade war. After months of optimism, investors are coming to grips that an eventual trade agreement may take longer than expected. After President Trump raised tariffs on Chinese goods and China responded in retaliation, investors are concerned with the full impact of these higher costs have not yet been fully felt on the U.S. economy. 


The good news for investors—at least for now–is that there are a number of positive forces helping to prop up the markets. Stocks’ valuations have come down to more reasonable levels, corporate earnings continue to beat expectations, and the Fed seems open to embrace a more accommodative stance on interest rates. What’s more: a positive resolution to the trade war (eventually) is highly likely as both the U.S. and China have too much to lose to continue the trade standoff indefinitely.


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More About Gene Goldman:

Gene Goldman is responsible for the strategic direction and continued growth of the firm’s research offerings. His role includes setting the vision for superior capabilities and enabling the delivery of objective investment advice. He provides day-to-day oversight of Cetera Investment Management, with a focus on providing unbiased research about the economy and financial markets, asset allocation strategies, mutual funds and other investment related topics. Mr. Goldman also helps oversee the investment committee and their commitment to delivering thought leadership on the economy, financial markets and investment strategies, as well as implementation and practice recommendations for advisors.


Mr. Goldman has more than 24 years of experience in the development of investment strategies, money manager research and overseeing investment analysts. Previously, he was a vice president and market strategist with LPL Financial, where he helped in the development and articulation of market and investment strategies. Before this role, Mr. Goldman served as lead strategist in the manager strategy group, where he supervised the research and analysis performed by the team’s analysts in the LPL Financial centrally managed and open architecture mutual fund and separately managed account platforms. Prior to joining LPL Financial in 1996, he spent two years at Liberty Financial, where he was a mutual fund product analyst within the Research Department.


Mr. Goldman received his Bachelor of Science in engineering from Worcester Polytechnic Institute in Worcester, MA, and his Master of Business Administration with a concentration in finance from Northeastern University in Boston.


He also holds Series 7 and 63 securities registrations and is a Chartered Financial Analyst® (CFA) charterholder.


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