This week we look at what stocks may be telling us about the presidential election.

Corporate earnings, the most important factor in market performance, were poor in developed foreign markets last quarter.

We continue to expect an improving economic backdrop in the second half and a stock market with the potential for more new highs before year-end.

This week we look at some interesting, under-the-radar breakouts in the economy and markets.

We expect mid-single-digit returns for the S&P 500 in 2016, consistent with historical mid-to-late economic cycle performance, driven by a second half earnings rebound.

We believe the Brexit’s impacts on earnings and U.S. stocks may be limited; we maintain our 2016 year-end S&P 500 forecast for mid-single-digit returns.*