We saw a major jump in the markets this past week. The two big stories were the start of earnings season, and Europe. In earnings news, Alcoa and JP Morgan Chase both disappointed. However, Google reported far better-than-expected as a result of increasing demand for its search engine platform. Stocks also rose on positive news out of Europe for a change. However, the big question is whether progress is actually being made in Europe, or if the news was just an attempt to regain confidence during an economic disaster? In case you missed the news this morning, Germany has stated that there is no definitive solution to the debt crisis problem, and that there isn’t a quick fix. Doesn’t sound good, does it?
Earnings season continues this week with Citigroup, Wells Fargo, and Bank of America set to report. On the tech side, IBM and Intel will be reporting as well. We also have a busy week ahead with various economic reports being released that will give insight into manufacturing and inflation. Can the markets keep their winning streak alive?
Do you have an investment strategy that seeks to protect your portfolio against volatile economic conditions? Call me to schedule a free review of your current investment portfolio – 913.693.7918.
John P. Chladek, MBA, CFP® is the President of Chladek Wealth Management, LLC, a fee-only financial planning and investment management firm specializing in helping families and couples who are not yet retired realize their financial goals. For more information, visit https://www.chladekwealth.com.