December 2021 Economic Dashboard

2021 was an outstanding year for U.S. stocks. The S&P 500 rallied nearly 30% on low volatility by historical standards (there was not a single correction of 6% or more). Fiscal and monetary stimulus, combined with a rapidly reopening economy, helped propel the market higher. We enter 2022 with a much stronger economy than a… Read More »

November 2021 Economic Dashboard

November was a mixed month for stock markets, with a late-month selloff erasing early gains. Energy commodities were especially hard hit, as the U.S. crude oil benchmark declined 20%. The latest COVID variant to emerge, Omicron, spread fresh fear as several major economies increased restrictive measures. Monetary policy, both in the U.S. and abroad, continued… Read More »

October 2021 Economic Dashboard

Major U.S. stock market indices rebounded to new all-time highs in October following September declines. Crude oil benchmarks climbed to multi-year highs while natural gas remained elevated. Third quarter real GDP grew 2.0% annualized, with the delta variant, moderating fiscal stimulus, supply chain shortages, and subdued labor participation weighing on the economic recovery. Consumer spending… Read More »

September 2021 Economic Dashboard

Major stock markets declined in September, ending the third quarter with mixed results. The Fed has indicated a future reduction in the COVID-related purchases of treasuries and mortgages in the months ahead. At quarter end, Congress had not agreed to lift the debt ceiling. Despite the domestic headlines, the U.S. stock market outperformed again in… Read More »

August 2021 Economic Dashboard

August was a relatively calm month for markets. Economic data continued to show inflation running hot, but not broad-based. Autos, especially used, account for roughly 1/3 of the rise in the consumer price index. Markets continued to shrug off inflation data. Most major indices climbed higher in August, with the S&P 500 rising 2.9%. Commodities play a crucial role… Read More »