We had the banks issue earnings last week and will have a significant amount of earnings reports from other sectors like new autos.
This week’s reports should provide some insight to consumer strength.
No matter, as the S&P 500 stock index has posted six straight weeks of gains.
Needless to say another record high.
So much positive news is making me nervous.
There seems nothing can halt the move up.
The war in the Middle East escalates and the market yawns.
The election is two weeks away to no consequence.
China can’t find the magic to kick start its economy.
There are numerous other global factors in play.
The money just keeps moving into index funds buoying the markets.
Of particular note is the broader market gaining strength beyond the Magnificent 7.
There was some good news for Boeing, as it appears there could be a settlement in the labor strike.
This comes on the help of a postponement of the longshoremen strike until the New Year.
Congress put in a stop gap spending bill that will have to be addressed right after the New Year.
It appears whomever is the President will have quite the agenda.
This all sets up for a fairly beneficial holiday season for investors.
The real question starting to percolate with analysts is what is down the road nine months from now.
What state will the economy find itself?
What will the Fed have done with interest rates?
Is there a chance of a recession?
New Presidential terms have been historically positive for the markets.
All that said, sooner than later, we will have to deal with our national debt.
That could really take the air out of the balloon.
I can’t figure outside of another financial crisis, what could drive our elected officials to deal with reality.
It seems they defer till forced.
