Bill Maher Nails Why Trump Connects With Voters...and Dems Won't Like It
CNN Host: There's No Evidence That Obama or Biden Went After Trump
Virginia Dems Might Want to Correct This Statement Over the Sign That Attacked...
So, That's Why the University of South Carolina Had an Active Shooter Alert
All the Right People in Media Were Mad About John Bolton's Home Being...
Democrats Seem To Love Black Death
And Stay Out!
Should Men Cry In Front Of Women?
Trump Wants Grassley to Tell Dems These Three Words Over 'Blue Slip' Tradition
A Disturbing Number of People Have Signed Petition Supporting Illegal Trucker Accused of...
The Woke Left Goes Lock, Stock, and Cracker Barrel
The Woke Left Goes Lock, Stock, and Cracker Barrel
When 'Woke' Businesses Betray Their Customers
Israel is Not Committing Genocide in Gaza, Despite Hamas Terrorists’ Claims
Rising Anti-Semitism: A Real Crisis Affecting Real People
OPINION

Investors Yawn At Subpar Stimulus

The opinions expressed by columnists are their own and do not necessarily represent the views of Townhall.com.
AP Photo/Richard Drew

The market has been largely meandering today, as investors great fiscal stimulus with a collective yawn. There is an aspect of selling the news.  But let’s face it, the report could have focused more on building financial bridges for households and less for well-funded cultural institutions.

Advertisement

There is also a sense of angst over the near term reflected in Consumer Confidence report that came in well below expectations.

  • Headline 88.6
  • Estimate 97.5
  • November 92.9

The report is really the tale of current doubt and future positive anticipation.  A combination of things, including a spike in coronavirus, surge in lockdowns and post-election blahs, knocked present conditions for a loop.

Conversely, six months from now, expectations are better in most categories, including business conditions and assumption of higher wages.

Consumer Confidence

Nov

Dec

Present

109.9

90.3

Expectations

84.3

87.5

 

Manufacturing Strength

For the most part, the manufacturing renaissance continues with the latest example coming from the Richmond Fed.  The headline number is up nicely from November, as new orders and employment led the way.

Richmond Fed Survey

Nov

Dec

Headline

15

19

New Orders

12

24

Shipments

20

12

Employment

13

20

 

The market is beginning to get that holiday feeling of indifference.  All the major news from corporate earnings, the Fed meeting and fiscal stimulus have come and gone. 

I think the so-called Santa Claus rally began more than a month ago. We could see tax loss selling combined with an absence of traders. 

Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos

Advertisement
Advertisement
Advertisement