KEEP CALM AND CARRY ON

STRIDERELASS

ECONOMIST

TWITTER: @STRIDERELASS

Source: First Trust Advisors L.P. Note: This chart is for illustrative purposes only and not indicative of any actual investment. The S&P 500 Index is an unmanaged index of 500 stocks used to measure large-cap U.S. stock market performance. Investors cannot invest directly in an index. Index returns do not reflect any fees, expenses, or sales charges. Stocks are not guaranteed and have been more volatile than the other asset classes. These returns were the result of certain market factors and events which may not be repeated in the future. Past performance is no guarantee of future results.

The S&P 500 Index is Up, In Spite of Black Swans

PRIVATE PAYROLLS, MONTHLY CHANGE

Source: Bureau of Labor Statistics Data Through January 2018

PART-TIME VS. FULL TIME

Source: Bureau of Labor Statistics Data July 2009 January 2018

PERSONAL CONSUMPTION

Source: Bureau of Economic Analysis Data Through December 2017

Source: Federal Reserve Board. Liabilities of Households & Non-Profits. Horizontal axis represents the years 1990-2017, quarterly data are shown for Q1 1990 Q3 2017.

Source: Federal Reserve Board. Liabilities and Assets of Households & Non-Profits. Horizontal axis represents the years 1990-2017, quarterly data are shown for Q1 1990 Q3 2017.

AFTER TAX CORPORATE PROFITS & CASH

Source: Federal Reserve Board Data Through Q3 2017

S&P 500 Index: The Golden Geese at Work

Source: First Trust Advisors L.P. Note: This chart is for illustrative purposes only and not indicative of any actual investment. The S&P 500 Index is an unmanaged index of 500 stocks used to measure large-cap U.S. stock market performance. Investors cannot invest directly in an index. Index returns do not reflect any fees, expenses, or sales charges. Stocks are not guaranteed and have been more volatile than the other asset classes. These returns were the result of certain market factors and events which may not be repeated in the future. Past performance is no guarantee of future results.

For Institutional Use Only. Not For Public Distribution.