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Happy Birthday, Bull Market
March 13, 2014 at 19:00 PM EDT
Last week, U.S. investors brushed off geopolitical worries, pushing stocks to a record high. But it’s a mistake to attribute the rally solely to economic strength. Despite some better-than-expected headline economic numbers, data have actually been mixed. For instance, while there was a big February bounce in a key manufacturing gauge, an important measure of the service sector sank to a four-year low in February. Meanwhile though job growth rebounded in February, other metrics – including a still-low labor force participation rate and high long-term unemployment – reaffirm that the U.S. labor market is still struggling with structural challenges. For now, however, as I write in my new weekly commentary, the “good enough” economic data, momentum and low rates are allowing the bull market to enter a sixth year. On March 9, 2009, the stock market bottomed amid the throes of the financial crisis, and the next day marked the [...] Click here to read the original article on ETFdb.com. Related Posts: No Related Posts
Last week, U.S. investors brushed off geopolitical worries, pushing stocks to a record high. But it’s a mistake to attribute the rally solely to economic strength. Despite some better-than-expected headline economic numbers, data have actually been mixed. For instance, while there was a big February bounce in a key manufacturing gauge, an important measure of the service sector sank to a four-year low in February. Meanwhile though job growth rebounded in February, other metrics – including a still-low labor force participation rate and high long-term unemployment – reaffirm that the U.S. labor market is still struggling with structural challenges. For now, however, as I write in my new weekly commentary, the “good enough” economic data, momentum and low rates are allowing the bull market to enter a sixth year. On March 9, 2009, the stock market bottomed amid the throes of the financial crisis, and the next day marked the [...]
