Message from Jon
Back in the saddle from my stay-cation last week and playing catch up to emails and to-do lists is on the agenda for the next couple of weeks.
At some point, this party is going to come to a close, but now does not seem like that time! According to Eric Kuby of North Star, last Friday we had the unemployment numbers reach a 50-year low with the help of 266,000 payrolls added to the economy. The University of Michigan's consumer sentiment index rose to an all-time high of 99.2 from the end of November's reading of 96.8.1
For me, it is a challenge to be excited about the future in the markets when all I read seems to be stating nearly the opposite. Remaining in the moment, letting the data speak for itself, and trying to remain unbiased to opinions can be more difficult than it sounds, and this year has proved that true for sure.
In my opinion, we are not seeing data supporting a recession on the horizon in the near future.
We have Brexit voting in December in yet another attempt to get their approval to leave the EU.2 We have a series of tariffs to be levied on the 13th which may or may not go through.3 We have a Presidential Impeachment unfolding as well as numerous protests and instances of civil unrest around the world.4 There are more headlines and potential headwinds to pay attention to-but not necessarily react to.
The NYSE Advance Decline Line is still strong with no divergence, and the NYSE new lows index has shown a very low level recently. These are both signs of continued rally in the markets going forward.
Remaining invested is the approach at present, but diligence and caution are prudent ingredients at the moment as well.
Take a moment in December to evaluate 529's accounts, tax harvesting strategies, and also ROTH contributions, Charitable Donations, and Retirement plan contributions.
Till we speak again-Enjoy the lights!
Stocks Ride Out a Choppy Week
WEEKLY UPDATE - DECEMBER 9, 2019
The Week on Wall Street
Key Wall Street benchmarks were up and down last week - or rather down and then up. A Tuesday retreat was offset by a Friday rally spurred by the Department of Labor's November jobs report.
|Securities offered through Regulus Advisors, LLC. Member FINRA/SIPC. Investment advisory services offered through Regal Investment Advisors, LLC, an SEC Registered Investment Advisor. Registration with the SEC does not imply any level of skill or training. Regulus Advisors and Regal Investment Advisors are affiliated entities. Summit Retirement Advisors, LLC and Summit Financial Group of Indiana are affiliated entities. Summit Retirement Advisors, LLC and Summit Financial Group of Indiana are independent of Regulus Advisors and Regal Investment Advisors.