U.S. CEOs aren’t panicking despite the roller coaster ride of major Wall Street stock indexes nosediving, then rebounding over the past few days of trading. After plunging 1,175 points on Monday, the Dow rose by 567 points Tuesday—a percentage gain of 2.3% that represents its biggest rise since January 2016.
But for CEOs monitoring the markets, the correction wasn’t an enormous surprise.
A Chief Executive poll of 162 U.S.-based CEOs this morning showed that barely a quarter voiced having concerns over the market correction that started last Thursday. Rather, the greater majority say a correction was not only overdue, but needed.
Some have even qualified it as healthy, “get it out of the way and get on with growth and progress,” commented the founder and CEO of a mid-sized professional services firm who believes that deregulation, tax reform and a pro-business agenda will continue to bolster the economy throughout the coming year.
“Markets correct, it’s part of the cycle.”
While a few expect volatility to last a couple more days, possibly inching closer to a 10-15% pullback from recent highs, at the market open most believed it was already over. “Markets correct, it’s part of the cycle,” dismissed the CEO of a mid-sized manufacturing company.
And with the current fundamentals and the robustness of the economy, the idea that a small interest rate increase might destroy the market seems more like an uneducated overreaction, a panic that needed to be subdued before it got even more out of hand.
“A correction was bound to occur,” said the vice-chair of a small corporation in the technology space, “but the underlying strength of the economy is not a bubble, it’s definitive.”
The Federal Reserve Board and new chair, Jerome Powell, however, may want to take note that a rapid increase in rates is likely to shake confidence further, so a slower approach to raising interest rates might be in order.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
