BIG JUMP: The U.S. economy added 304,000 jobs in January. This was the 100th straight month of increased employment (see graph below). The consensus expectation was about half that figure. Despite the shutdown, companies kept hiring. The unemployment rate ticked up from 3.9% to 4.0% due to two factors. First, 176,000 government workers on temporary…
DetailsFOUR IN A ROW: U.S. stocks notched their fourth consecutive week of gains last week. Have fears of an economic slowdown subsided? Apparently so, at least for now. Data continues to show a very healthy labor market and the Federal Reserve has lately been indicating flexibility with monetary policy. Both factors seem to have ignited…
Details2019’S GOOD START: All major U.S. stock indices had a strong week, continuing what has been three weeks of solid and steady growth since the December swoon. Next week, major companies will begin to report their fourth-quarter earnings, and most analysts have downgraded their forecasts due to trade uncertainty. We will see how actual results…
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January 11, 2019 Dear Valued Clients & Friends: 2018 Year-End Market Commentary It is our profound pleasure and honor to work with all the individuals, families and institutions represented by the Compass Ion Advisors client base. You each mean a lot to us, and we are always striving to improve at exercising our…
DetailsLOTS OF JOBS: The U.S. economy added 312,000 new jobs in December, a surprise to the upside for sure. In addition, the Bureau of Labor Statistics revised its October and November numbers reporting that there were 58,000 more jobs created in those months than earlier reported. In addition, wage growth was higher than expected. Average…
DetailsFED RAISES RATES: The Federal Reserve raised its benchmark interest rate another quarter of a percent on Wednesday. The Fed made it clear that it intends to continue raising rates next year. Fed chair Jerome Powell emphasized the continued strength of U.S. economic growth despite the recent strains caused by weaker growth in Europe and…
DetailsU.S. INDUSTRIAL PRODUCTION INCREASES: After moving down 0.2% in October, industrial production in the U.S. rose 0.6% in November. Manufacturing remained steady while the utility and mining sectors grew. Industrial production in the U.S. is now 26% above the recession low and 4% above the pre-recession peak. FEAR ABOUT GLOBAL ECONOMIC GROWTH SETS…
DetailsNOVEMBER EMPLOYMENT NUMBERS: In November, the U.S. economy added 155,000 new jobs, a bit lower than the consensus expectations. The unemployment rate remained 3.7%. 2.443 million jobs have been added in the last twelve months, which remains a solid rate of growth. Wage growth was encouraging as average hourly earnings increased by 6 cents to…
DetailsTEN YEARS AGO: On December 1, 2008, the Dow Jones Industrial Average dropped 7.7% in one day, the 12th worst day for the index ever. Globally, stocks were down close to 50% for the year, and the downward trend would continue for a few more months. Chrysler, Ford and General Motors were actively seeking a…
DetailsWHAT HAVE YOU DONE FOR ME LATELY?: Despite the fact that U.S. corporations have delivered quite a bit lately, markets continued to be volatile, and the S&P 500 recorded a weekly loss. With 91% of the S&P 500 companies having reported third quarter earnings, profits are up 28% from a year ago. 78% have…
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