Last week the market rose handsomely; 4th Quarter GDP came in at 2.9%, and the Fed’s favorite inflation gauge, the Personal Consumption Price Index Core rate fell from 4.7% to 4.4%. In addition, China is attempting to re-open and corporate profit reports thus far, have not been as negative as anticipated.
Stocks rose with the Nasdaq leading the way, up 4.32%, the Dow rising 1.81%, the S&P 500 2.48% and the Russell 2000 2.37%. Foreign stocks and Emerging markets both climbed 1.4% for the week.
Bond yields stayed mostly flat last week, anticipating the Fed.
The main concern (no secret) is whether our economy and the global economy will slow enough to enter a recession or will we have that “soft landing.” The stock market so far this year is suggesting the soft landing. Let’s hope the market has it correct this time!
This week welcomes plenty of information that may provide some clues. We have 100 of the S&P 500 companies reporting, including Amazon, Apple, Alphabet, Meta, Caterpillar, Ford, Eli Lilly, Exxon, General Motors and many more.
On Wednesday, we’ll hear the Fed’s anticipated rate increase announcement and commentary…. definitely the most important part of the economic week. Following our Fed, is the Bank of England and the European Central Banks rate decisions on Thursday.
On Friday we’ll hear the jobs report for January which is expected to tick down from 223,000 jobs created in December to 185,000.
By Friday at 8:30, we will have digested a lot of information!!
Wills and Estate Documents
At our client’s first review meeting of the year, we typically discuss any family changes that may impact the need to alter their estate documents.
Did anyone in your family get married, have a child, pass away, become ill? There are several reasons to consider revisiting your estate planning that have nothing directly to do with your finances.
Everyone in the very least should have a Will, a Power of Attorney, and a Health Care Declaration (Living Will).
Completing one’s estate documents is often met with significant procrastination until either something happens within your family or to someone you know. Even then, I find much hesitation.
I will suggest, that after you complete your estate planning documents, it’s a good feeling knowing that when you pass, your family and friends will not have any frustration with settling your estate. They can truly focus in on what’s most important.
If you have any questions about your estate situation, please do not hesitate to schedule a consultation.
As always, if any of your friends or family might benefit from this information, please feel free to share!