Stocks rallied, with the S&P 500 climbing 2.5% last week. The index is now up 13.8% from its October 12 closing low of 3,577.03 and down 15.1% from its January 3, 2022 closing high of 4,796.56. Stay ahead of the market While the U.S. economy has been cooling off for months, the hard economic data shows growth has been pretty resilient . On Thursday, we learned GDP in Q4 rose at a 2.9% rate. However, if you’ve only been reading sentiment-oriented business surveys (i.e., the soft data), you might think things are in much worse shape than they really are. The ISM Manufacturing surveys have signaled contraction in November and December. The S&P Global U.S. Composite Output surveys have been signaling contraction since last July . Similarly, regional business surveys from the New York Fed , the Philly Fed , and the Dallas Fed have reflected ugly declines in activity. This dynamic is not new to TKer’s paid subscribers. See: Perceptions on the economy have disconnected from reality � Goldman Sachs economists explored this conflict between the hard and soft data in a new research note titled: “Making Sense of Scary Survey Data.” “While contractionary soft data in January […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
