There were a number of important economic updates last week, with a focus on consumer confidence, the Fed’s January meeting, and the advanced estimate of fourth-quarter GDP growth. The first look at GDP growth in the fourth quarter was a highlight, as the report showed that the economic recovery picked up speed to finish out the year. This will be another busy week of updates, with reports on business confidence and January employment serving as highlights to come.
Commonwealth
Will Chinese Equities Roar in the Year of the Tiger?
On February 1, China bids farewell to the Year of the Ox and rings in the Year of the Tiger. The ox symbolizes prosperity, diligence, and perseverance. In 2021, this symbol was apt, as Chinese economic policy shifted from “growth at all costs” to “common prosperity” and the country diligently persevered through many regulatory changes. Chinese equities were collateral damage in the process. As the Year of the Tiger rolls in, Chinese equities could remain volatile but purr stronger.
What the Fed Said
One of the key sources of uncertainty that has driven the market pullback over the past weeks has been interest rates. Specifically, the rise in rates—and the fear that the Fed would tighten further—pulled growth stocks down, including many in the tech sector, and generated significant uncertainty around where the economy was going.
An Update on the 100K Project
I see the market is bouncing back a bit, and I know the headlines of the day will revolve around the Fed meeting and press conference, which are still a couple of hours away and I will cover tomorrow. So, let’s do something a bit different today. Let’s take a look at my 100K project.
More Market Volatility Ahead?
Yesterday gave a great example of what I meant in Friday’s post when I said the stock market was not crashing. For those who missed it, the U.S. markets dropped sharply during the day, with the Nasdaq down almost 5 percent on the day, only to rebound at day’s end and land in the green. This kind of reversal is rare and signaled that—at the depths of the decline yesterday—a number of investors saw enough value in those prices to step in and buy.
Monday Update: Existing Home Sales Hit 15-Year High in 2021
Last week saw the release of a number of important economic updates, with a focus on the housing sector. The existing home sales report was a highlight, as sales of existing homes showed notable year-over-year growth in 2021. This week will be busy once again. The highlights to come include reports on consumer confidence, the results from the January FOMC meeting, and the first look at fourth-quarter GDP growth.
Olivia has joined Riverstone Wealth Partners providing her expertise gained from her 15 plus years in management. Olivia has provided services within the financial industry, mortgage industry, and in the non-profit sector. Olivia thrives on providing stellar customer service, accomplishing all goals set before her, and doing the right thing. Olivia’s degree in Business Management allowed her to take on roles that ultimately led her to Riverstone Wealth Partners. Olivia is currently pursuing another degree with an emphasizes in Human Resources, which she has learned over time… is her passion!
Director of Operations
Ashley has been working in the customer service field since she started her first job at age 16. For the past ten years she worked in an office setting handling accounts payable and receivable as well as some receptionist work. She is very excited to learn more about the investment field.
Alec joined Riverstone after starting out his post college career on the operations side of an international logistics company working as an account executive. Graduating with a BA in Economics from the University of Illinois at Urbana-Champaign, he quickly developed a strong interest in the financial world. A lifetime resident of the Chicagoland area, Alec is an avid fan of his hometown sports teams. He is also an enthusiast of outdoor activities like fishing, camping, and hiking whenever possible.
Carol has a wide variety of experiences and has worked mainly with not-for-profit organizations. She spent 20 years in fundraising and 15 years teaching in the Illinois school system while she raised her younger children. Carol lives in Sugar Grove with her husband, Ron, and their Golden Retriever, Charley. She has four children and two grandchildren. When she’s not working, Carol enjoys spending time with friends and family, running, fishing, bible study, and watching her grandchildren play sports.
Wealth Advisor
Wealth Advisor / Registered Principal
Wealth Advisor
Wealth Advisor / Registered Principal
Wealth Advisor
Wealth Advisor Assistant
Registered Relationship Assistant