“The market is often stupid, but you can’t focus on that. Focus on the underlying value of dividends and earnings.”
– John C. Bogle
The Through Line: Investors had an avalanche of economic data and earnings reports to parse this week, searching for breadcrumbs to help find the path ahead. Near-term signals are conflicted thanks to the clouds that still surround shifting trade, tax and geopolitical policies. Yet important themes are emerging as company managements outline steps to navigate the choppy environment.
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