We are into to the last full trading week for the year with all eyes on the Federal Reserve announcement on Wednesday.
The betting money is for another quarter point reduction.
There is some thought though that last week's economic news that inflation moved a touch up to 2.7% and GDP was 3.3% should enable the Fed to let things play out.
There is plenty of concern that Trump's thoughts of 30% tariffs on Canada and Mexico could lead to higher prices.
Some suggest there are members of the Federal Reserve board will argue against a cut.
I believe, with Fed funds at 55 to 4.75%, there is room to cut on the basis of the funds rate being too far above current rates.
What is of more importance will be what the Chairman Powell says about what they see coming over the next six to nine months.
It seems the actual news gets trumped by speculation every time. There was no pun intended.
What is noteworthy is that Elon Musk hit it out of the ballpark - Tesla stock climbed 73% since the election.
It trades at 130 times estimated earnings.
If that is not the definition of froth, I don't know what the definition is all about.
Many attribute the latest big move to the promise of Robo taxis.
You can ask the astronauts that his company had to go retrieve after NASA couldn't deliver.
Let us not forget Bitcoin that has climbed back above $100,000.
Gold has lost no luster.
Being less than a blind optimist, I do have concerns about next year.
You know I have been concerned for over a year and have been dead wrong.
It does concern me when almost everyone is bullish.
It is hard to argue after the year we have had.
I evaluated the returns on a charitable foundation that I donate to for a couple of programs that I think are worthy.
They boasted of a 12% return.
My only thought was that had to be the least you could have earned in this market.
I wonder what it will be when this market turns.
The problem with these types of institutions is that there are charges to operate that eat into the return.
Nothing comes free.
It is the problem many will have to evaluate as they hear of the next great investment option available to them.
The devil is always in the details.
For now, you have to just enjoy and be grateful.
It is certainly a time to give thanks for what has happened financially in 2024.
Hopefully that can offset any troubles that have come your way as there will always be those obstacles to overcome.
