We made it through the first quarter of the year and the S&P 500 climbed 10%.
This hasn’t happened in over a decade.
In years past when the market has climbed this much, there has been over a 50% chance that the index will be higher by the end of the year.
It has proven that starting off the year positive sets the tone for the remainder of the year.
We had the Fed’s most closely watched inflation report come in just as expected.
We will get a jobs report this week and the unemployment numbers, which should also come in as expected.
There just seems to be less concern as to when or if the Fed will lower interest rates.
The thought that a recession is coming is really losing any support.
This is not to say that all is perfect, which it obviously is not.
We have just as many issues as before.
Hopefully attention will turn to the more important matters.
While the commodities sector has lagged behind the stock market, gold has continued to climb much like Bitcoin.
It at least points to the fact that
there are plenty of investors who are far from convinced that this market is going anywhere but up.
Always need buyers and sellers.
Bookies learned that lesson long ago as they just balance the two and make their money on the 10% juice.
Much of the chatter this week is centered on the data loss at AT&T.
It gives further credence to the notion that data security stocks like Palantir and Palo Alto will continue to be important.
Disney is entering the last stages of its fight with Nelson Pelz over control of the future direction of the Mouse House.
The magnificent Seven has taken some hits with the pullback of Tesla, Apple and Google.
Nothing goes up forever.
We also will be getting ready for the total eclipse here in the Hill Country.
I am a bit mystified by all the hype, but will just try to stay out of the way and hope the wolves don’t start howling or anything else strange.
Maybe that will be the next Black Swan to impact the markets.
It will at least be black but that may be it.
