Today we are discussing the economic news and data that could impact your portfolio. We are changing our format to bring you this critical information in a more concise presentation. Please let us know what you think about it and if you feel you are still getting the information you need. You can email me here or in the comment space provided below.
The US economy is still looking strong
We are a still looking at the GDP being up 2% for the year and 3% for the first half of the year. The US is still looking strong from an economic and market standpoint. International companies based in the US may feel the impact of European inflation, tensions coming from Russia, and terrorist situations. There is also concern over ISIS and a possible terrorist attack slowing down our growing economy. These terrorist groups have American and British citizens in their forces with passports that give them the ability to come in and out of their home countries freely. That could really cause problems and have a major impact on the US economy.
Historically, the S&P 500 has hit over 30+ record highs this year. S&P Marketscope pointed out that in 1995 the S&P hit 500 and the next 30 days was up 4.6%. In 1998 the S&P 500 hit the 1000 mark and was up 7.9% in the following 30 days. In 2007 it was up over 1500 and rose up 2% in the next 30 days. Here we are in 2014 and the S&P 500 is over 2500. We will be watching this closely to see from an historical standpoint if it has a positive up swing.
New economic information this week
The big report this week is the Jobs Report which will be released on Friday. Also on Wednesday we will see a PMI and ISM Manufacturing reports. These reports will give us some very important information on how the US economy is really doing and what we can expect in the future.
I really want to hear from you. Email me your comments and questions here or call me at (205) 989-3498.
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Greg Powell is President and CEO of Fi Plan Partners, an independent investment firm in Birmingham, AL, serving clients across the nation through financial planning, wealth management and business consulting. Fi Plan Partners creates strategies in the best interest of their clients using both fee based investing and transactional investing.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.
The S&P 500 index is a measure of performance of the broad domestic economy through 500 stocks from major industries.