The market just keeps moving north.
Last week the Labor Department called back staff on furlough to announce the CPI, which came in at 3%.
That was just under projections and just over the last report.
It is not the goal of 2%, but not moving up as quickly as some believe.
This seemed to some analysts as a green light for the Fed to announce a 1/4 further reduction of the Fed funds rate.
I am not a fan but the horse may be out of the barn.
On top of that we have 1/3 of the S&P 500 announcing earnings this week.
Of significance is the fact that most of the Mag 7 will announce earnings.
With all of that you have the leaders of the US and China meeting this week to discuss a trade deal.
Last week there were trade deals announced between the US and several Pacific Rim Asian countries.
There was also news of a US Australian deal to secure rare earth minerals.
That is a lot of good news for markets already testing the limits.
Of course we remain in a government shutdown.
The war in Ukraine goes on and Russia is not playing nice.
The peace in the Middle East is tenuous at best.
With recent concern over the world’s view of the strength of the dollar, I saw an interesting suggestion.
It was posed that gold back up Treasuries.
The gold standard for the dollar was tossed to free up spending by Congress.
I have to admit that I think it was a mistake to abandon the gold standard for the dollar.
Anything that can limit government spending I am for.
It just doesn’t seem like there is anything to stop this market.
I will sell any losers going into the end of the year.
By losers, I mean, those that are rising in value by single digits.
If there was ever a time to clean up your portfolio, this is it.
I just wish I could shake this concern about what might be around the corner that we can’t see and won’t appreciate.
