A big week ahead with the Federal Reserve meeting, earnings reports and employment numbers coming out.
The markets will have one of the best Januarys in a long time.
The NASDAQ is up double digits as tech stocks have found support.
When you look at the 200-day moving average, it provides real hope.
For the first time in over a year, the S&P 500 stock-index has climbed over the 200-day moving average, which has been on a negative course stair stepping down.
We were able to move above 4000 for the S&P 500 stock-index.
That is not all of the good news as Bitcoin, after a brutal 2022, is back above 23,000 and gold is targeting $2,000 per ounce.
The expectation this week is that the Federal Reserve on Wednesday will announce a 25 basis point increase in the Fed Funds rate.
That will not get the overall rate above 5%, but it is at least a smaller increase.
We will get earnings reports from some of the biggest high tech companies, like Amazon, this week.
Last week, the news from Intel was that t/hey were caught with inventory and will have to liquidate, costing millions in losses. The news was not as bad from the likes of Nvidia and AMD, but there was not great news.
The PC cycle that was set off during the pandemic has come to an end and will take time to play out.
I find comfort is the middle ground.
We could deal with some calmer seas instead of boom or bust.
It is great for day traders, but difficult for those of us trying to build
our retirement accounts.
I would tell you though that the multiple for most companies is still above historical averages.
I do find it interesting that this whole concern over the debt ceiling is not getting much play.
I guess the reemergence of the Presidential cycle and horrible news on daily affairs takes our attention away.
I sincerely hope that the stalemate goes on for the next two years.
I for one received nothing out of the stimulus and will be one of the ones to pay for all that was promised and not delivered.
Taxes will go up as politicians do not cut spending, no matter the party.
while I notice almost anything and everything is costing more, I am not sacrificing to sustain my life.
I am of course an aberration as I am older and only have to care for my dog.
I say that but somewhere in this deal I got on the hook for sustaining my 10 grandchildren.
Really can’t remember signing that contract but so be it.
As my children say, you don’t need the money and we can really use it.
I would counter they don’t either, but no one is listening outside of my dog and he tolerates me so I will take him to the golf course.
Still been one heck of a January.