Information received since the Federal Open Market Committee met in July indicates that the labor market has continued to strengthen and that economic activity has been risig moderately so far this year.
remarkable piece of political theater played out this week in Washington. Faced with the relief efforts needed following Hurricane Harvey, more anticipated for Hurricane Irma, and an upcoming national debt limit, the President made a deal with the Democratic leadership to provide relief funding and lift the debt limit for three months.
Economic activity expanded at a modest to moderate pace across all twelve Federal Reserve Districts in July and August. Consumer spending increased in most Districts, with gains reported for nonauto retail sales and tourism, but mixed results for vehicle sales.
7-29-17--Late-July through early-September represents an extremely precarious time in the stock market, when a myriad of cycles--ranging from 40-Year & 80-Year Cycles down to multi-week cycles--pinpoint the most likely time for a sharp correction in equities. Specific downside price targets are also forming and will be discussed separately.
There is an old adage "sell in May and go away", which suggests that nvestors should sell their stocks in May and buy them back in November in order to avoid the subpar market returns that some associate with the summer/fall period.
According to participants in the Chicago Fed’s annual Automotive Outlook Symposium, the nation’s economic growth is forecasted to be near its long-term average this year and to strengthen somewhat in 2018.