14 Feb 2003

Posted at 16:13h in The Friday Brief by
High terror alerts across the nation have likely negatively impacted our economy of late, but the numbers from January look pretty good.  TheU.S.consumer continues to support this economy to the amazement of many economists.  Retail Sales excluding autos rose 1.3% last month, according to the Commerce Department.  Building materials, higher gasoline prices, and higher prices on imported goods helped boost the index.  Retail sales represent 30% of the U.S.economy.  

03 Jan 2003

Posted at 16:26h in The Friday Brief by
There is an axiom on Wall Street that says ‘as goes January, so goes the year.’  Yesterday certainly got January off to a good start.  The first trading day of the New Year saw the Dow rise by 3.2%, the S&P 500 by 3.3% and the NASDAQ by 3.7%.  Volume was heavier than the preceding week, but was still well below normal.  However, the buying volume was six times the selling volume; further proof that selling is on the decline.