The U.S. economy is showing signs of stabilization however influence from the global economy is weighing on the U.S. markets. Asia and Europe markets have taken it on the chin this week over the debt crisis that is coming to bear in Portugal, Spain and Greece. In a global economy what happens elsewhere in the world must have an impact on us. The positive side is that although the U.S. stock market has also been impacted, we have witnessed movement of investment into the safe haven of government treasuries which has dropped mortgage rates approximately 1/8%.
National unemployment has dropped to 9.7% which was far better than analyst expectations of 10%. Although in recent weeks we have seen an increase in weekly first time jobless claims, the news of lower overall unemployment is a positive report that the economy sorely needs.
Finally big corporations are seeing an increase in sales growth. Up until now, the increases in corporate profits has been due to cost cutting measures. For the first time in over 2 years, companies are beginning to see increases in sales. Although most of the increase has occurred overseas, never the less, the news is positive and ultimately we will see the sales growth move over to the U.S.
Remember in the end, life is filled with choices. It is your decision to focus on positive or negative news and forces all around. Make the decision to be positive! Don't wait for positive news to happen to feel better, make your own news positive through your focus and actions.
Economic news week on tap for next week is:
• Thursday February 11th - Retail Sales
• Thursday February 11th - Jobless Claims
• Friday February 12th - Consumer Sentiment
Have a good weekend!
JJ Mack
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