Just when you thought that the post-election period would lack positive news, the US stock market achieved a new record high. Going north of 19000 brings gains to new limits as the country heads into the shopping season of the 4th quarter. Fully 1/4 of the consumer spending in the country happens between now and Christmas, an impressive effort. The possibility of an interest rate increase by the FED has spurred a positive attitude among investors(mostly institutional types, of course). The IPO of Blackrock was also a boost to the market, bringing one of the largest investment vehicles into the public sector.
So, how are your stocks doing? Up for the year? That is a question on the tongues of many, especially those who have self directed IRA's. Many pension funds have also seen meager returns this year at a time when many were calculating long term results on a 7% avg. rate of return, something not seen in years.
Post election uncertainty has not helped many consumers open their wallets, but Black Friday(tomorrow) might yield some good news. We'll see.
Lake Tahoe, California's Alpine playground, is anchored on the west shore by Homewood/Tahoma, straddling two counties:Placer and El Dorado. The mayor of Tahoma posts information related to the area and items of interest to residents and visitors alike. Its goal is to be informative, humorous, and timely. Hope you enjoy the site.
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