2018 Midyear Outlook

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Presenting the LPL Research Midyear Outlook 2018:

The Plot Thickens, packed with investment insights and market analysis to guide you through all the action we may see in the year ahead.

When we as investors began 2018, we were tuned in to the recent fiscal policy changes that were
expected to propel economic activity and the financial markets higher in the coming year. The
handoff in leadership from monetary policy to fiscal policy was well underway as a driver of
consumer spending, business investment, and corporate profits. Instead of depending on the Federal
Reserve (Fed) to move this expansion forward, fiscal incentives are now critical for continued
growth, with the new tax law taking the lead.
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