Since the bull market started in 2009, periodic growth scares have caused market
corrections. Some sectors are better positioned than others to withstand a potential
correction driven by the payroll tax increase and higher gasoline costs.
-Mark Luschini, chief investment strategist, Janney
Outline:
- The difference between the credit spreads, yield curves and central bank stances of today compared to 2007 when the market last reached new highs
- U.S. Economic News – Retail sales impacted by payroll tax increases while jobless claims continue to indicate a slowly healing labor market
- Global Market Conditions – in a positive sign for global equities, global manufacturing indicators are showing significant improvement
- Mark remains overweight on Energy and Tech while underweight Staples and Telecom – while neutral on Materials and Industry, he has a strong positive bias on them
