Better economic data needed before Wall Street can rise back to all-time highs

Stocks kicked off 2019 with a bang as U.S.-China trade tensions simmered while the Federal Reserve signaled patience in raising rates. However, stocks will need improving economic data to make a run at the record levels set last year.

"What the market needs and must have is a spate of data suggesting the economy continues to expand, albeit slowly, but not stalling," said Quincy Krosby, chief market strategist at Prudential Financial."That worry that the economy could stall out has the market worried." Retail sales, a widely followed barometer of consumer health, unexpectedly rose 0.2 percent in January. However, December sales were revised down to show a 1.6 percent decline.

China has also agreed to bolster its purchases of U.S. agricultural products to try and narrow its trade surplus with the U.S., a sticking point of President Donald Trump. However, the two sides have yet to come to terms on key structural issues like intellectual property theft. Durable goods orders in the U.S., meanwhile, rose 0.4 percent in January to surpass economist expectations. Constriction spending also rose 1.3 percent in January in to mark its biggest gain in nine months.

Not necessarily, because an advance of 4%-5% from the current level would achieve such an all-time high. The current economic environment is generally supportive of such a move.

and why do you need better data and all time highs when you can rally 30% at almost all time highs with shitty data?

lol never will...

Crash 👀

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

10 charts that show why these stocks are Wall Street analysts' top picks in EuropeJefferies chose 10 companies with great management; high barriers to entry; pricing power; positive free cash flow; or some combination of the four.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Wall Street lifted by tech shares, heavyweight Boeing pares lossesU.S. stocks rose after five straight sessions of declines on Monday boosted by t...
Source: Reuters - 🏆 2. / 97 Read more »

Wall Street snaps five-day losing streak despite Boeing's dropU.S. stocks jumped on Monday as the technology sector led a broad-based rebound ... What goes up must come down...... Boeing or not. Because America's people are the best investment on the planet minus the many whining losers who can do nothing but complain. Free is only a word not a reality.
Source: Reuters - 🏆 2. / 97 Read more »

Wall Street analysts wrote an electric car-themed version of Bohemian Rhapsody — and it’s very oddUBS really wants your vote for a closely-watched industry award: 'Nothing really matters, nothing but the vote for your A-Team.'
Source: BusinessInsider - 🏆 729. / 51 Read more »

Wall Street muted on trade uncertainty, housing data disappointsU.S. stocks flitted between gains and losses on Thursday as uncertainty over whe... A bad workman always blames his tools. This is just the beginning. We are in end times. Another Red Flag predicting a Recession irregardless of a China Trade Deal. However like the Kim Embarrassment Trump again States I’m in no rush. Is this again a sign of an Embarrassing China Trade Deal.
Source: Reuters - 🏆 2. / 97 Read more »

GE shares drop after giving 2019 earnings forecast lower than Wall Street estimatesGeneral Electric gave shareholders an updated earnings forecast on Thursday.
Source: CNBC - 🏆 12. / 72 Read more »