Now that the Holiday season is officially open for business, it seems the Santa Claus rally is off to a great start.
The various averages and indexes have posted four straight weeks of gains with the Dow and S&P 500 stock-index closing in on record highs.
Outside of the formidable debt we have accumulated as a nation, earnings continue to support higher levels for stocks.
Moreover, it seems that the Fed will hold off on rate increases as inflation seems to be more stable.
That doesn’t make up for the last two years of significant increases, but we will take what we can get.
I am a bit concerned about the amount of personal debt on credit cards for consumers becoming a problem, but that is next year.
The spending for the holiday season got off with a bang as consumers spent over $10 billion last weekend.
You would literally have to be Scrooge to find something wrong at this time of the year.
I know there are world events that must be taken into account, but we seem to keep moving forward.
You know they don’t mean much when most people’s attention is focused on shopping and sports.
The movie business is making a comeback with sales still below 2018, but up over last year.
There are those that point out that election years are good for stocks historically.
It doesn’t seem that you will find a lump of coal in your investment stocking this year.
The whole AI phenomenon breathes hope into the markets.
I say all this but we still have seven stocks driving this whole boat essentially.
It would not take much to really cause a correction much like October. I only say this as there is nothing without the potential for something worse.
I will say that I have much to be thankful for this year and it is not all financial.
I will have a larger tax bill this year, but I always maintain that taxes are validation of your good financial decisions.
I learned long ago that doing something based on saving taxes can and will be a problem.
You invest for gains and when you achieve such, you cash in and pay your taxes. I detest taxes, but recognize it is part of the game.
I hope your holiday season got off to a Merry start with a wonderful Thanksgiving with family and friends.
It is good to take time and reflect on all that has come our way. It is also a great time of the year to give back.
I know we all contribute to our community throughout the year, but a little more when things are going so well to help others is the best part of the holiday season.
