The economy has moving, but not in a stellar fashion, a Northwest Indiana investment advisor said.
Merrill Lynch wealth management advisor Mark Ennes said economic growth should pick up more by the fourth quarter. Interest rates have been rising, but inflation has been muted at about 1.5 percent.
The S&P 500 index has risen by about 14 percent over the course of the year, surpassing the 1,600 mark.
Gross domestic product growth is likely under 2 percent so far this year, but companies should start expanding and hiring more before the end of the year, Ennes said.
The municipal bond market has been a source of some concern, given defaults in Detroit and Birmingham, Ala., and debt and pension problems in California and Illinois.