As 2013 comes to a close, the S&P 500 is trading near its all-time highs amidst a five-year rally. The economic backdrop heading into the New Year is constructive enough for cautious optimism. Economic trends continue to suggest modest improvements in the labor market, subdued inflation, and improving business as well as consumer sentiment. We […]
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At Long Last, Tapering Is Underway
Wednesday, the Fed announced that it would start tapering its asset purchases. Initially, the stock market fell on the news of the $10 billion tapering; however, it quickly reversed course and the DOW and S&P 500 both closed at all-time highs. The tapering of the Fed’s Quantitative Easing program is a sign of economic strength, […]
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Signs of Change in Washington?
Last week, there were some signs of at least a temporary reprieve to the political gridlock in Washington, as the House passed a Budget agreement. One can only hope this is a sign of some changes to the political landscape, or at least an indication that politicians realize the ramifications of the political skirmish over […]
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Upside Surprise to Job Growth
On Friday, it was reported that non-farm payrolls increased by 203,000 in November, ahead of expectations that 185,000 jobs would be added. The unemployment rate fell to 7.0%, its lowest level since November 2008. The November result was roughly in-line with recent gains – the four-month average is 204,000. Since the Fed began its latest […]
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Holiday Shopping Season Is Underway
Black Friday, or the day after Thanksgiving, marks the official start of the holiday shopping season. This year, the holiday season is atypically brief; in fact, it’s six days shorter than last year. In addition, Chanukah started much earlier than normal, which will also have impact on holiday season sales, as the majority of Chanukah-related […]