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Weekly Bulletin: Retail Sales, Payroll Tax, etc.

February 20, 2013

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

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