The U.S. economy grew at a 4.9% annual pace in the third quarter, much higher than expected and more than double that in the second quarter. Consumer spending helped the strong growth, a strong labor market, and solid consumer finances will continue to support consumer spending.
At this week’s meeting, the Fed is expected to keep interest rates the same, as the recent surge in long-term bond yields is helping convince policymakers that there is less need for further hikes. While the Fed will probably keep all options open, it is possible that the July hike might have been the last increase. We can only hope!
Basic conditions drive market returns, not the calendar. History has shown that there are some seasonal patterns to returns that can be observed throughout time. Since 1945, November and December have been good months for stocks, with the S&P 500 achieving above-average earnings and the highest chances of positive gains.
Please check out the newest article on our website, “Why Long-Term Investing Matters”
Have a great week, and thanks for reading!
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Sincerely,
David L. Bennett, CFA, CFP
President & Financial Advisor | Unify Financial, LLC
1465 S Fort Harrison Ave Suite 205, Clearwater, FL 33756
Office 727-306-0299