Last week brought us our first week of gains in a month as a jump in oil prices and a rally in the European markets pushed stock prices higher. Global stocks also responded favorably to news from the European Central Bank that more stimuli could be forthcoming. We started this week trading down on Monday followed by a strong rally on Tuesday. As I’m writing this update on Wednesday, the market is trading back and forth as we wait to digest the notes from the most recent FOMC meeting. Time will tell if the bottom was truly established the week of the 18th.
While there are some headwinds facing the markets, as long-term investors we should remember that it’s normal to see pullbacks, just as we’ve had this year during bull markets. In fact, we’ve seen the S&P 500 correct itself by at least 14.7% five times since 2000, only to eventually make its way higher. The short-term interruptions in the markets can present attractive buying opportunities for long-term investors who have a well-diversified plan in place.
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