Last week, the December retail sales report showed strong consumer spending to finish 2023. Consumer sentiment soared this January to 78.8 from 69.7 in December. Optimism created from lower expected inflation and higher wages contributed to sentiment climbing a cumulative 29%, the largest two-month increase since 1991 as a recession ended. The S&P 500 hit an all-time high of 4840 on Friday, capping the week with a 1.19% gain.
As we move into this week, the spotlight turns to the fourth-quarter earnings season, with key reports expected from Netflix ($NFLX), Tesla ($TSLA), and Visa ($V). These reports, pivotal for assessing stock valuations, will also focus on 2024 earnings estimates and profit forecasts. Additionally, the US Gross Domestic Product (GDP) report due on Thursday will offer fresh insights into the economy’s health.
Thank you for reading, and here’s to a great week ahead.
Follow us on Facebook for these weekly updates at Unify Financial Advisors Facebook Page.