New York City-based Fiduciary Trust International recently recapped its outlook on the financial market’s current status, specifically its mutability of late, pointing out key issues while observing the need for investors to adapt to uncertainty.

Chartered Financial Analyst Ronald Sanchez noted five takeaways considered critical by the firm: the possibility of tariffs has spiked variability; no tariffs will take effect during continued dialog; neither China nor the U.S. can afford a trade war; tax reform on top of volatility has indirectly in turn yielded S&P 500 figures; and finally, the market may swing from trade-oriented changes back to basics.

“After years of government paralysis and an unusually calm market in 2017, investors are now struggling to sort out the implications of an ever-changing policy landscape,” Sanchez stated, describing the impact of steel and aluminum tariff discussions on market figures.

He noted that tariffs are only in the conceptual phase at this time; and that the risks of a trade war would be counterbalanced by recent fiscal policy, despite many sectors feeling the effect. Overall, Sanchez indicated on behalf of Fiduciary Trust, a trade war is not that likely

In conclusion, the firm affirmed its intention to “remain constructive” on equities for the coming year.