Jobs, Manufacturing, Service – New High!
After more than a year of treading water the S&P 500 finally moved above its former all-time high of 2135 (set May 21, 2015) this week to set new all-time record highs. Being only two weeks removed from the “Brexit” market turmoil, setting new highs has seemed to take most investors by surprise. It’s probably not hard to come up with reasons for market caution (we’ve heard there is a presidential election coming up this year) but we are definitely struck by the strength we have seen in recent U.S. economic data. In this issue we share what we are seeing with three major pieces of economic data.