Contact Us

Economic Update – January 30, 2023

THE WEEK ON WALL STREET

Stocks added to their early 2023 gains amid a busy stream of mixed corporate earnings results and conflicting economic data.

The Dow Jones Industrial Average gained 1.81%, while the Standard & Poor’s 500 added 2.47%. The Nasdaq Composite index rose 4.32% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, increased by 1.14%…1,2,3

STOCKS ADVANCE

With the backdrop of earnings reports and conflicting economic data, stocks climbed higher on cooling inflation, continued economic resilience, and fourth quarter corporate earnings results that, while underwhelming, did not appear as bad as many had feared.

There was enough new economic data to support both the “recession is coming” and the “soft landing” camps. It was corporate results and continued labor market strength, along with a solid, if weakening, fourth-quarter Gross Domestic Product (GDP) growth number, however, that raised investors’ hopes that a potential recession may be mild and likely pushed out to later in the year.

GDP REPORT

The U.S. economy expanded at a 2.9% annualized rate in the fourth quarter, slightly exceeding consensus estimates of 2.8% but down from the third quarter’s 3.2% growth rate. Consumer spending, which accounts for over twothirds of GDP, rose 2.1%. Increases in private inventory investment, government spending, and nonresidential fixed investment also contributed to the fourth quarter’s growth. Weakness in housing and a drop in exports subtracted from the quarter’s result.4

Beneath the headline number, the personal consumption expenditures price index (the Fed’s preferred measure of inflation) rose 3.2%. That was lower than the third quarter’s 4.8% increase, though it remains above the Fed’s 2% inflation target rate.5

TIP OF THE WEEK
Ramp up your college savings with rewards programs. There are credit cards and online shopping programs that can allow you to direct a steady stream of rebates toward your education fund.

THE WEEK AHEAD: KEY ECONOMIC DATA

Wednesday: Federal Open Market Committee Announcement. Job Openings and Turnover Survey (JOLTS). Institute for Supply Management (ISM) Manufacturing Index. Automated Data Processing (ADP) Employment Report.

Thursday: Factory Orders. Jobless Claims.

Friday: Employment Situation. Institute for Supply Management (ISM) Services Index.

Source: Econoday, January 27, 2022

The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to be providing accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts also are subject to revision.

THE WEEK AHEAD: COMPANIES REPORTING EARNINGS

Monday: Principal Financial Group, Inc. (PFG).

Tuesday: Advanced Micro Devices, Inc. (AMD), Pfizer, Inc. (PFE), Caterpillar, Inc. (CAT), General Motors Company (GM), McDonald’s Corporation (MCD), Amgen, Inc. (AMGN), United Parcel Service, Inc. (UPS), Stryker Corporation (SYK).

Wednesday: Thermo Fisher Scientific, Inc. (TMO), Humana, Inc. (HUM), TMobile US, Inc. (TMUS).

Thursday: Apple, Inc. (AAPL), Amazon.com, Inc. (AMZN), Ford Motor Company (F), Alphabet, Inc. (GOOGL), Qualcomm, Inc. (QCOM), Bristol Myers Squibb Company (BMY), Merck & Co., Inc. (MRK), Eli Lilly and Company (LLY), Honeywell International, Inc. (HON).

Friday: Cigna Corporation (CI), Regeneron Pharmaceuticals, Inc. (REGN).

Source: Zacks, January 27, 2022

Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule when they report earnings without notice.

CITATIONS:

1. The Wall Street Journal, January 27, 2023
2. The Wall Street Journal, January 27, 2023
3. The Wall Street Journal, January 27, 2023
4. CNBC, January 26, 2023
5. CNBC, January 26, 2023

QUOTE OF THE WEEK
“Fact creates norms, and truth illumination.”
WERNER HERZOG

THE WEEKY RIDDLE
Karen is twice her brother’s age and half her father’s age. In 22 years, her brother will be half the father’s age. How old is Karen now?

LAST WEEK’S RIDDLE:
Take one letter out of a 7-letter word and it becomes longer. What is the word?
ANSWER: Lounger

Know someone who could use information like this?
Please feel free to send us their contact information via phone or email.
(Don’t worry – we’ll request their permission before adding them to our mailing list.)
Jerry Slusiewicz may be reached at 949-219-0692 or 800-449-9501
jerry@pfpinvest.com
pfpinvest.com

This Economic Update should not be construed as a solicitation or an offer to buy or sell any public or private securities. Securities offered through Pacific Financial Planners. Please check with a Financial Advisor regarding your specific needs before making any investment decisions.

Stay Informed about the Financial Issues that Matter Most to You

Enter you information in the form to receive our blog and periodic email updates about how recent developments in the financial markets could impact your ability to save for the retirement you’ve always envisioned.

Name(Required)
This field is for validation purposes and should be left unchanged.

Schedule A Complimentary Consultation

Virtual Meetings Available
Request a Consultation Get Started

Pacific Financial Planners is a full-service financial firm dedicated to helping those in the California area meet their long-term financial goals. Our team of financial advisors and wealth managers are experienced in helping clients preserve their savings, so they can use it as a source of steady income in retirement.

Pacific Financial Planners, LLC is an Independent Registered Investment Advisor located in Laguna Niguel, CA

Read Full Disclosure

Contact Us
30131 Town Center Drive, Suite 105, Laguna Niguel, CA, 92677
Facebook-f Twitter Linkedin

Privacy Policy
Broker Check: https://adviserinfo.sec.gov

Newsletter
Signup for our newsletter to get updates information, news & insight.
Name(Required)
This field is for validation purposes and should be left unchanged.

Copyright © 2024 Pacific Financial Planners. All Rights Reserved.

Investment Advisory Services offered through Sound Income Strategies, LLC, an SEC Registered Investment Advisory Firm. Pacific Financial Planners and Sound Income Strategies, LLC are not associated entities. Pacific Financial Planners is a franchisee of The Retirement Income Store®, LLC. The Retirement Income Store®, LLC and Sound Income Strategies, LLC are associated entities.

A franchise of The Retirement Income Store.

We are an independent financial services firm helping individuals create retirement strategies using a variety of investment and insurance products to custom suit their needs and objectives. Pacific Financial Planners, LLC. is an Independent Registered Investment Advisor located in Laguna Niguel, CA. Investing involves risk, including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. None of the information contained on this website shall constitute an offer to sell or solicit any offer to buy a security or any insurance product. Any references to protection benefits or steady and reliable income streams on this website refer only to fixed insurance products. They do not refer, in any way, to securities or investment advisory products. Annuity guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company. Annuities are insurance products that may be subject to fees, surrender charges and holding periods which vary by insurance company. Annuities are not FDIC insured. Neither the firm nor its agents or representatives may give tax or legal advice. Individuals should consult with a qualified professional for guidance before making any purchasing decisions. The information and opinions contained in any of the material requested from this website are provided by third parties and have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed. They are given for informational purposes only and are not a solicitation to buy or sell any of the products mentioned. The information is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation.

Learn More About Mandee

In preparation for her continuing the family business and taking over full time once Dee retires, Mandee Carter, the Vice President and Associate Advisor of the Carter Financial Group, has been working alongside her father running the day-to-day business and learning the ropes, so to speak, since 2017.

Mandee received her BS in Psychology in 2016 and started her career in the Financial Industry in 2010 when she started helping in the office. After acquiring her degree, she came on full-time in March 2017 as Dee’s business partner and Main Associate Advisor helping clients navigate the intricacies of investing for retirement and overall successful financial planning.

In 2021, she was named an Elite Producer with American Equity amongst other accolades.

In Mandee’s spare time, she likes to go to the gym, spend time with her boyfriend, friends and family. She is an animal lover and rescuer. She has 2 German Shepherds that she rescued from the shelter 6 years ago. She still enjoys almost all things Psychology related and is constantly researching something. She enjoys meeting new client prospects and likes speaking with her current clients. She loves helping people.