3. S&P 500 earnings make limited headway as advances in consumer spending are partially offset by oil, the dollar and wage rates.
4. For the first time in almost 40 years, U.S. equities experience a single-digit percentage change for the second year in a row.
5. Stocks outperform bonds for the fifth consecutive year, with equities up modestly and the broad bond market lagging, weighed down by rising rates.
6. Non-U.S. equities outperform domestic equities, while non-U.S. fixed income outperforms domestic fixed income.
7. Information technology, financials and telecommunication services outperform energy, materials and utilities.
8. Geopolitics, terrorism and cyber attacks continue to haunt investors but have little market impact.
9. The federal budget deficit rises in dollars and as a percentage of GDP for the first time in seven years.
10. Republicans retain the House and the Senate and capture the White House, though the latter comes with the rather important caveat that they can unify around an electable presidential candidate.