​Several factors have contributed to ongoing selling in markets this month. The UAW strike and looming government shutdown have weighed on short-term sentiment, as both have the potential to negatively impact the economy, should they last for an extended period.

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​As summer draws to a close we are seeing mixed markets. The coming months will see the focus shift to the new year and any challenges or opportunities that might come with it. Although the overall state of the economy remains a question, we do not see the likelihood of a notable downturn on the immediate horizon. As a result, this should pave the way for the typical year-end rally, particularly as many managers have been behind the ball in keeping up with the equity indices and will be playing catch up. We doubt markets will move in a straight line, but we see no reason to be negative on stocks for the remainder of 2023.