Thanksgiving is right around the corner and the HCM-BuyLine® was spotted benching 300lbs with a smile. It has two favorite thanksgiving side dishes; grandma’s stuffing and market gains. It seems as though the stoploss tool is trying to make room for both this month. Many would assume the market would have lost its footing after the big election day. According to the Wealth Watch, the S&P 500 surged 10-12% this past week, proving there’s no room for negativity at this table. There’s only room for grandma’s stuffing.
Don’t Pop the Bubbly Just Yet
Vance Howard suspects there could be pullback in the market’s future. Before you start whining about about a stitch in your side, he mentions the pullback could be “shallow and short lived.” Always come to a market dinner with a little extra Gas-X, sad numbers can be hard to digest. Growth is a long way from topping despite the sluggish nature of the stocks which usually have strong momentum. One of these days those stocks will get off the couch and quit binging bad christmas rom-coms on Netflix.
Guess What’s Making a Comeback
JOBS. Can we get a hallelujah? The job market gods are smiling upon the work force this month. About 12.1 million jobs have been added back in the states and workers are returning to that familiar keyboard clack-clacks, half-hearted good mornings, and receiving paychecks. While the states haven’t fully recovered, we would need an additional 12.1 million Americans hired in order to return to pre-pandemic numbers. BUT, we are still on a great track to guiltlessly pay for overpriced Starbucks drinks again. Those pumpkin spice lattes won’t drink themselves, ladies and gents.
Slow and Steady Wins the Race?
While we’re excited for our friends and family going back to work, it is important to remember the pace of hiring is slowing. Perhaps it’s because of election distraction, or simply because everything operates a little slower in colder weather. There is much recovery coming from many different directions. As the economy picks up its pace, jobs will need to be added to keep up with demand. Until we see some new numbers, we’re staying Optimiztic.