Afternoon Note
The market has been largely meandering today, as investors great fiscal stimulus with a collective yawn. There is an aspect of selling the news. But let’s face it, the report could have focused more on building financial bridges for households and less for well-funded cultural institutions.
There is also a sense of angst over the near term reflected in Consumer Confidence report that came in well below expectations.
The report is really the tale of current doubt and future positive anticipation. A combination of things, including a spike in coronavirus, surge in lockdowns and post-election blahs, knocked present conditions for a loop.
Conversely, six months from now, expectations are better in most categories, including business conditions and assumption of higher wages.
Consumer Confidence |
Nov |
Dec |
Present |
109.9 |
90.3 |
Expectations |
84.3 |
87.5 |
Manufacturing Strength
For the most part, the manufacturing renaissance continues with the latest example coming from the Richmond Fed. The headline number is up nicely from November, as new orders and employment led the way.
Richmond Fed Survey |
Nov |
Dec |
Headline |
15 |
19 |
New Orders |
12 |
24 |
Shipments |
20 |
12 |
Employment |
13 |
20 |
The market is beginning to get that holiday feeling of indifference. All the major news from corporate earnings, the Fed meeting and fiscal stimulus have come and gone.
I think the so-called Santa Claus rally began more than a month ago. We could see tax loss selling combined with an absence of traders.
Comments |
Just got a small look at the stimulus???? Sending money to other countries including middle Eastern Countries for gender something! We must have term limits! The congress is not in touch with the people that they are supposed to represent in this country! That's one of the main reasons Trump was so popular with the citizens. He cared about what mattered to Americans, Lorin K on 12/22/2020 1:52:18 PM |
Just a small side note due to being a huge fan of Classiness; Mr. Charles Payne, hands down sharpest dress individual on television. Merry Christmas to you, your family, and your loved ones. Mack G. Sherman on 12/22/2020 2:02:10 PM |
Mr Payne, Enjoying your "Royal" wardrobe color theme on Making Money today. My prediction: Cuomo will be on Krampus' List ! cargobob on 12/22/2020 2:49:03 PM |
The junk they put into the "stimulus" bill is a travesty. Our politicians should be embarrassed - but they're not. We should fire them all and start over. Jack G on 12/22/2020 5:28:17 PM |
Can we do this in the USA?? "WSJ News Alert: Israel Faces Fourth Election in Two Years After Parliament Is Dissolved" Jack G on 12/22/2020 5:36:04 PM |
Term limits would be a great incentive to work for the people instead of themselves. Patricia on 12/22/2020 6:34:54 PM |
Tweet |
4/17/2024 1:59 PM | Facing Pressure |
4/17/2024 9:37 AM | POWELL STILL WANTS TO HELP |
4/16/2024 1:35 PM | Muted |
4/16/2024 9:42 AM | FEAR ARRIVES |
4/15/2024 1:17 PM | Making a Statement |
4/15/2024 9:45 AM | Equal Opportunity Drubbing |
4/12/2024 1:37 PM | Pressure Overall |
4/12/2024 9:42 AM | WHO YA GONNA CALL? |
4/11/2024 1:38 PM | No Urgency |
4/11/2024 9:27 AM | Tough Sledding |
4/10/2024 1:22 PM | Hang In There |
4/10/2024 9:51 AM | HERE COMES THE LATEST RATIONALE FOR PERSISTENT INFLATION |
4/9/2024 1:56 PM | Fighting the Trend |
4/9/2024 9:46 AM | NEXT TIME, MAKE IT A HOLIDAY |
4/8/2024 9:45 PM | Cautious Feel |
4/8/2024 7:19 AM | IT’S ECLIPSE DAY |
4/5/2024 1:51 PM | Higher and Cheaper |
4/5/2024 9:23 AM | MARKETS REEL ON BIDEN’S ISRAEL ULTIMATUM |
4/4/2024 1:42 PM | Stocks Bounce |
4/4/2024 9:31 AM | ESCAPING GRAVITY = ESCAPING REALITY? |
4/3/2024 1:41 PM | Cuts Not Soon |
4/3/2024 9:33 AM | A LITTLE LESS SWAGGER |
4/2/2024 1:16 PM | Under Pressure |
4/2/2024 9:49 AM | HIGHER PRICES & JOBS LOSS – “NO” ON FED BINGO CARD |
4/1/2024 10:00 AM | OF COURSE, HE CAN WAIT…THE DATA STILL NOT ADDING UP |
More commentary archives |
Home |
Products & Services |
Education |
In The Media |
Help |
About Us |
Disclaimer | Privacy Policy | Terms of Use | All Rights Reserved.
|