US Stocks traded 3% higher last week and are at their highs for 2019 up over 12% year-to-date. Investors will have plenty of economic reports to digest this week including a decision from the Federal Reserve on interest rates.
Job openings in the US reached 7.6 million in January the 3rd highest ever, which is a sign that companies are still eager to add new employees. The most job openings are in wholesale trade, real estate, and IT. The number of job openings outnumbered the ranks of the unemployed for the 11th straight month which has never happened.
The University of Michigan Consumer Sentiment Index moved higher in March for the 2nd straight month, with the index rising to 98. The gain in March was due to households in the bottom two-thirds of income. Those households felt better about their finances than wealthy households as wage growth has been more pronounced in lower-income households.
More proof that investors can't successfully time markets. The average investor that owned and S&P 500 Index fund since 1989 received a 7.61% average annual return. In that 30 year period if that investor had missed only the 50 best trading days their return would have fallen to a negative .47% per year. It's time in the market, not trying to time the market which is the key to success.
With Northwest Quadrant Wealth Management, I'm Tyler Simones