12/17 Weekly Report: The Winter Rally Continues into the Holiday Season and POWELL PIVOTS
@DonMiami3, MacroEdge Chief Economist; @SixFinance, MacroEdge Head of Research
The Winter Rally Continues into the Holiday Season (@DonMiami3, MacroEdge Chief Economist)
The past week delivered a mixed bag of economic data, leaving the picture for the holiday season and beyond somewhat murky. On the one hand, positive momentum continued in the stock market, with the S&P 500, Nasdaq, and Dow Jones all recording gains for a seventh consecutive week.
However, manufacturing data painted a less rosy picture. The NY Empire State Manufacturing Index unexpectedly declined, indicating a contraction in the sector. This, along with other manufacturing PMI readings, raises concerns about potential bumps in the road for the economy.
Services remained a bright spot, with S&P Global PMIs showing continued growth, albeit slightly slower than in previous months. This suggests that consumer spending might remain resilient even as manufacturing faces challenges…
Full article included in this week’s MacroEdge Weekly Report only available at MacroEdge.net.
POWELL PIVOTS (@SixFinance, MacroEdge Head of Research)
After a stunning rally beginning at the end of October in risk assets, and a record one month loosening of financial conditions, Federal Reserve Chairman Powell pivoted this Wednesday at the Federal Open Market Committee meeting. Risk assets broadly gained following the change in stance…
Full article included in this week’s MacroEdge Weekly Report only available at MacroEdge.net.