Slow and steady. That’s our view of Friday’s payroll report, which showed that employers added 157,000 jobs in January, leaving the unemployment rate unchanged at 7.9%. Although this fell short of economists’ forecasts, the sharp upward revision in the number of jobs created in November and December fueled investor excitement, and that lifted the Dow […]
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The S&P 500 extended its gains last week…
The S&P 500 extended its gains last week following a flurry of positive fourth quarter earnings reports and early signs that Europe’s economy may be on the mend. About one-third of firms comprising the S&P 500 index have announced results this month and among these over three-fourths have reported earnings that topped analysts’ projections, according […]
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The US economy continues to expand…
The US economy continues to expand at a moderate pace, despite headwinds created by the fiscal cliff and debt ceiling debate in Washington. US stocks finished slightly higher for the week after positive reports on housing and labor, both of which seem to be benefiting from the Federal Reserve’s pledge to keep interest rates near […]
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The S&P hit a five-year high last week….
The S&P 500 hit a five-year high last week following news that Chinese exports surged 14% in December, exceeding economists’ estimates for a 4.6% increase. The better-than-expected year-over-year growth is a positive sign for global trade and the Chinese economy. Importantly, it suggests the impact from the sovereign debt crisis in Europe and “fiscal cliff” […]
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American Taxpayer Relief Act of 2012
Last week Congress passed the American Taxpayer Relief Act of 2012, which averted the so-called “fiscal cliff” of immediate spending cuts and tax increases that threatened to send the US economy into a recession. Global markets rose sharply and investors breathed a sigh of relief that Washington demonstrated the political will to get a deal […]