Weak hiring is restraining U.S. growth and the economy has grown at a “modest” or “moderate” pace since November. These were a few of the conditions reported in the Federal Reserve’s Beige Book Wednesday. And as The Wall Street Journal
notes, it’s a story that is largely in “in line with how the economy
has performed for much of the last two years” and the “latest sign that
economic growth remains subdued overall.”
The S&P 500 (^GSPC) ended 2012 up 12%, while Barron’s (citing mutual-fund watcher Lipper) reports that the week ended Jan. 9 saw the fourth biggest weekly cash flow into equity funds in 20 years. As Barron’s columnist Brendan Conway notes: “The plaint about individual investors’ ‘cash on the sideles’: Maybe it’s finally going to retire.”
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