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Good Morning!
Despite the broad, bullish run-up in the stock market, the greater, longer-term issue remains as to whether the stimulus money, let us call it “kindling,” will be enough to catch fire and light the bigger logs, the economy at large. The stimulus package, coming from the public sector, is intended to be the spark that lights the private sector. Indeed, the credit markets have begun to loosen up a bit, consumer confidence is rising, the downward trajectory of the economy is leveling off. However, we will eventually need to see GOOD economic news, job creation and solid consumer spending numbers in order to convince us that we have a longer-term bull market on our hands. Time will tell.
Dennis Fagan
Chris Fagan