Joe Biden walked onto the national scene with a whole pathway that needed to be cleared of management mishandling before he could look to his own agenda. And not even two years into his first term, our president has been oh so much more capable than most imagined. Take the economy for example.
First off he indicated that Wall Street plans to gradually increase which was exactly what economists want. Plus Stocks were higher Friday as the Dow Jones Industrial Average was “on pace to snap an eight-week losing streak.” Even though the Stock Market does not measure America’s economy, people tend to look at it that way. And it looked relatively better this week, CNN reported::
‘The Dow Jones Industrial Average climbed 52 points, or 0.2%. The S&P 500 gained 0.8% and and the Nasdaq Composite rose 1.4%.’
At its base, the Expenditures Price Index has been stuck until now. The primary inflation gauge went up 4.9 percent, but showed a significant improvement in this turn-around:
- ‘Personal income rose slightly less than expected, but spending beat estimates as consumers tapped savings.
- ‘Headline PCE rose just 0.2%, a sharp reduction from March’s 0.9% increase.’
As an emotional entity, the Stock Market did point to National Security as it is measured by the Personal Consumption Expenditures. These are shown in a Personal Consumption Expenditures Price Index and have had a tale to tell.
Indeed, inflation showed that the Stock Market had to everything do with the economy. After all, the Stock Market does reflect where the nation lives, CNBC relayed:
A report showing inflation slowing a bit helped give stoc’ks a boost on Friday. The core personal consumption expenditures price index rose 4.9% in April, after 5.2% pace in the previous month. This particular report is watched closely by the Federal Reserve when setting policy.’
America’s investors looked through the retail earnings and found:
‘Investors on Friday also continued to parse through retail earnings until he found that the Ulta Beauty shares were up about 9.8% after the company reported better-than-expected quarterly results, while Gap sunk 8% after slashing its profit guidance.’
The investors have been looking at sustainability at the rally this week. They looked to see “whether it’s a relief bounce or the bottom of sell-offs:”
‘The Dow, S&P 500 and Nasdaq Composite are on track to close the week higher. The Dow is up 4.9% and on track to snap its longest losing streak since 1923. The S&P 500 is 5.2% higher and the Nasdaq is up 5.2% on the week. Both are riding seven-week losing streaks. A chunk of the week’s gains came Thursday, when all three of the averages rallied as strong retail earnings lifted sentiment.’
Many people’s eyes tend to glaze over when the nation begins to talk about numbers. Then there are. those who delight in this particular numbers game. Take Chief Market Strategist for FS Investments, Troy Gayeski, told CNBC’s Closing Bell: Overtime:
‘We think there’s a good chance for some more strength here. This is sort of a classic bear market rally or bounce off the bottom. Inflation expectations have rolled over recently.’
What did they want to happen? Perhaps, they wanted a return to normal:
‘Even young people can see that this was a “classic bottom ‘bear market bounce back, off of the bottom.”‘
President Biden has pulled off his goals thus far with a few exceptions. This time, he is looking good, too.
Three White Lions podcast, Gloria Christie reads her week’s most important news/ commentary stories in the liberal online newspaper The Bipartisan Report. Gloria Christie Report her newsletter for people on the go. Written in her own unique style with a twist of humor in a briefer version of Bipartisan Report. Christie’s Mueller Report Adventures In Bite-Sizes a real-life compelling spy mystery. Find her here on Facebook.