We are becoming ever more impressed with recently reported economic facts as represented by U.S. and foreign economic reports and by U.S. and global corporate earnings reports, explains Monty Guild of Guild Investment Management.
U.S. earnings of S&P 500 companies reported thus far in 2017 are excellent, exceeding last year by approximately 10%. European and Asian earnings also are rebounding positively.
Trade data from many countries reported in the last week is solid and strengthening. Clearly, demand for raw materials and for manufactured goods is fine and improving in both the U.S. and in Europe.
Economic optimism spurred by better economic data and strong earnings is moving European, Asian, and U.S. stocks ahead.
We remain bullish on the U.S.. We recommend that investors look at the big favorite tech disruptors such as Google (GOOG), Apple (AAPL), Amazon (AMZN), and Facebook (FB).
Consider owning biotechs that are reasonably priced; in our opinion, Celgene (CELG) is one such. (Note: Guild Investment Management currently owns GOOG, GOOGL, AAPL, AMZN, FB, and CELG for some clients; these positions may be sold at any time.)
