The financial market is at an all-time high. The housing market-- an important catalyst of the economy-- is as good as it’s been since back in 2006/ 2007. Unemployment figures are also doing great.
This last quarter we saw the Federal Reserve deliver the 2nd interest trade bump of the year. We expected three bumps this year, so be on the lookout for the last one sometime soon. Even so, our aggressive portfolios are expected to see 12% to 15% return by year-end.
Tesla and Apple, our top-pick stocks from the beginning of 2017, are both doing well. Tesla, especially, has blown away our expectations. We guessed that Tesla would reach $300/share by the end of the year. Already, the stock has surpassed this. Now, we estimate that Tesla could hit up to $450/share by December.
Although the banking sector has been quiet this year, we still have high hopes for Bank of America stock. Currently, it sits at $23/share. As interest rates come back into the economy, we guess that the banking sector will provide us with some of the greatest values available.
We shaved off about 10% of the energy sector this year. Although we like energy, we felt that this sector was heading for a slump. As expected, energy dropped about 4%. However. it looks like there may be a good opportunity to take a position back in this sector later this year
Our team here at Sloy, Dahl & Holst is very happy with the year so far. Summer numbers have probably hit their highest point, but we’ll see a rally again toward October or November.
We sincerely thank you for your confidence and continued support. We would be happy to answer any of your questions.
Sloy, Dahl & Holst, Inc.