Although the U.S. economy has made strong gains over the past few months in manufacturing with low unemployment, the tightening of the labor market for the second half of the year could prevent that growth from getting much bigger, several Raymond James financial professionals suggest. 

In a recent online article, Raymond James examines the economic and fundamental backdrop as we approach the second half of 2018 saying the economic outlook "remains moderate" five months into the year. 

"While growth appears to have improved in recent months (following a weak showing from consumers in the first quarter), the labor market has grown tighter and could prevent growth from strengthening much in the second half of the year, Raymond James chief economist Scott Brown explained in the article. 

The article also points to investors concerns over trade and interest rates, saying the strong earnings "remain positive for investors," according to Raymond James Equity Portfolio & Technical Strategy senior portfolio analyst Joey Madere. 

Raymond James Washington Policy analyst Ed Mills said some of Congress' measures, such as Dodd-Frank regulation repeals, "will allow lending flexibility among community and regional banks."

The article states that some key factors to watch are the equities, interest rates, the fixed-income marketplace, and international markets.  

"A well-diversified portfolio should allow you to participate in upside potential as well as serve as ballast for any short-term volatility that may arise," the article stated.