Stocks: Don't Overreact But Be Prepared
Chris Ciovacco | Jan 06, 2014 04:26PM ET
The stock market is trying to figure out if the Fed can pass the baton to the economy. Recent hesitation in stocks speaks to the market’s still tentative outlook for earnings and economic growth. Monday delivered a mixed message in terms of economic data.
From Reuters
Two measures of activity in the U.S. services sector showed slower growth in December, pointing to an economy that continues to expand at a modest pace, while factory orders rose in November. The pace of growth in the U.S. services sector slowed for a second straight month in December with business activity expanding at a lower rate and new orders contracting, according to the Institute for Supply Management. Separately, financial data firm Markit said its services sector Purchasing Managers Index eased slightly from the prior month, slipping by 0.2 point to 55.7 in the month.
An Ounce Of Prevention
On VT ). We will let the market be our guide, given the somewhat vulnerable state of stocks and the economy in the short-run.
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