Over time, the stock market has reached new records,
powered by economic and
earnings growth.2 We expect both to continue: The domestic economy is picking up a little speed, helped by improving growth in the rest of the world, and company
earnings have benefited from better sales, the weaker
dollar and still - low interest rates.
The British government's recent setbacks are also weighing on the pound, a typical tailwind for shares in
dollar earnings British companies, after Britain's upper house voted to give parliament
powers to block or delay a final deal on departure from the European Union.