New Philadelphia, Ohio (WJER) - A New Philadelphia financial advisor says there is still a lot to be optimistic about despite a shaky month on Wall Street.
The Dow closed up more than a thousand points Wednesday for its single biggest day gain in history, only to drop 500 again Thursday morning.
Paul Gorgas of Edward Jones says much of this has been brought on by news about the government shutdown, trade wars with China and impeachment rumors. He says much of the concerns fueling this should only be temporary.
“The government will open up fully once again, it’s just a matter of when. The trade talks with China will happen here and start up again January 7th, so right after the New Year, and it looks like there are positive signs that they could come to some sort of agreement,” he says.
Gorgas says the holiday retail sales numbers will provide an additional shot of confidence back into the market. MasterCard is reporting shoppers spent $850 billion dollars.
“If we have that much spending going on, that’s going to trickle back into the earnings of different companies that actually we bought like iPhones or anything else that comes through,” he says.
Gorgas says investors need to look at the long-term perspective and keep in mind that the market always comes back to set new highs.