Holiday Cheer!
Hello everyone and welcome to the December 2023 Boodle blog! As always, we are happy to have you join us, and we are thankful to share our knowledge of financial markets with you. This month we will take a look at where the stock market is at this moment, and where we will possibly end up for the year with about 15 or 16 trading days left in the year.
After experiencing a difficult 2022 we continued to check our economic indicators, and back in October of 2022 boodle made a bullish call on the market and because we trust our sources, boodle was able to steer our clients to excellent gains for 2023.
Looking at the Indexes, the DOW is sitting at 36,247.87 and the S&P is at 4604.37. The NASDAQ is at 14,403.97. These numbers translate into a 9.35% gain for the DOW, and a 19.92% advance for the S&P 500. The NASDAQ has advanced 37.92 for the year!
We got the November jobs report on Friday and those numbers showed that the U.S. economy continues to improve, and from the point of view at boodle, we take this as a positive sign.
The economy gained 199,000 jobs in November, while the unemployment rate fell to 3.7%. The labor force participation rate rose to 62.8%. These numbers, in addition to others, continue to buttress our opinion that recession fears continue to recede.
Many boodle clients continue to take comfort in our market analysis and their trust in us can best be measured by the performance in their own portfolios. Our clients know that we only answer to them, and that boodle is not part of some large, financial institution. Boodle believes that our clients are the best people to manage their portfolios, and they turn to boodle to help them make smart choices with their hard-earned money.
With that being said, we continue to watch our long term strategy play out, therefore boodle is of the opinion that you should continue to dollar-cost-average into this rising market, and you should also be fully invested in your retirement and brokerage accounts.Boodle is always seeking new clients who would like to learn how to get started, or how to modify their current strategy.
As we close out the investing year of 2023, we thank you for your support and we wish everyone a very Merry Christmas and a Happy New Year! Enjoy your holidays and we will see you back here in January!
Take care- Boodle blog