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.
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