Weekly Reading Recommendations

A Stellar First Quarter for Stocks (WSJ)

The Do's and Don'ts of Taking Over Your Parents' Finances (Fidelity)

The Compelling Case for International Equity Markets (AMG)

PWhy a Strong Start to 2024 is Bullish for the Rest of the Year

On the heels of about a 25% gain for the S&P 500 last year, stocks are up about 10% already in 2024. The logical question is, how much is too much? This week's highlight article dives into why a strong start for the stock market in 2024 indicates favorable prospects for the remainder of the year.

Click Here to Read "Why a Strong Start is Bullish"

Charts that matter

Supply Chain Improvements

The latest ISM Services Index update - utilized to assess the overall health of the broad based services industry in the United States - was released this week and was noteworthy on two fronts. 1) Prices paid fell quite a bit month-over-month, which sparked a brief rally in equities as this bodes well for the inflation outlook. 2) Delivery times have plummeted, as shown in the chart below, which is indicative of very loose supply chain conditions (relative to the backlogs experienced throughout COVID). With inflationary measures in the services sector being the most stubborn component, these metrics bode well for the outlook on inflation and the continuation of the downward trend that we've seen since July 2022.   

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