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Even in the worst-case scenario, we don’t expect a significant impact on the U.S. economy.
It appears an earnings recession has been averted and better earnings days lie ahead, though trade uncertainty is a huge wild card.
We expect a transition to large cap market leadership and away from small cap stocks in 2019 as the economic cycle ages.
First quarter productivity rose at the fastest year-over-year pace since 2010.
Escalating U.S.-China trade tensions caused stocks to sell off more than 2% last week.
Green shoots appeared in U.S. economic data as the economy entered the second quarter.
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