Navigating The Markets Compass Changes Downgraded large/small foreign views to negative from negative/neutral. Investment Takeaways Our 2014 stock market return forecast remains for gains of 10-15%,despite having approached the low end of that target, supported by continued near-double-digit earnings gains in the second half.* Small cap underperformance may be overdone, though technical weakness and the…

Navigating The Markets Compass Changes No changes. Investment Takeaways Our 2014 stock market forecast calls for gains of 10-15%, based on our forecast for 5-10% earnings growth and modest price-to-earnings (PE) multiple expansion.* We favor small caps and cyclical sectors, as we expect U.S. economic growth to improve over 2014, though small cap performance may…

Navigating The Markets Compass Changes Downgraded foreign-unhedged to negative from negative/neutral. Downgraded foreign-hedged to negative/neutral from neutral. Investment Takeaways Our 2014 stock market forecast calls for gains of 10-15%, based on our forecast for 5-10% earnings growth and modest price-to-earnings (PE) multiple expansion.* We favor small caps and cyclical sectors, as we expect U.S. economic…