December 26, 2011
Weekly Market Outlook
By Keith Schneider
by Keith Schneider
The stock market recovery this past week of almost 4% and 4 consecutive days up was mostly at expense of the Republican Party. A lot of good news erupted from improved housing starts, lower unemployment, increased consumer confidence, and apparent capitulation by House Republicans on a temporary payroll tax cut. Even the simmering sovereign debt crisis in Europe seems to be on the back burner for the moment. As of the time of writing this article, alleged Republican frontrunner Newt Gringrich could not even gather enough signatures to get on the ballot in Virginia. To make matters worse for the Republicans, Obama’s ratings have climbed dramatically in just a matter of days. Even most democrats now believe Obama will get re-elected.
For the final icing on the cake, Donald Trump (the ultimate social barometer), has decided that Republicans are now so misguided that he has left the party and gone independent. Proof in the pudding of course, was that no one showed for his debate. He may not be your favorite hairdo but you can‘t fault his sense of marketing, so I say no more. Wall Street loves moderate traffic and not total gridlock. Actually getting something done on Capitol Hill was certainly a welcomed change, as well as those positive economic numbers. Don’t miss this week’s webinar “Phases and Forecasts” for our look into 2012.
For this week’s abbreviated Market Outlook Video click below:
Hope you all had a great holiday!
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