Our PureVest Weekly Roundup looked at the employment report for January. The unemployment rate dropped to a 53-year low while job numbers crushed expectations. Earlier in the week, Jerome Powell raised interest rates by another quarter point. This was a big week for earnings, as the major tech companies reported; results were mixed, but the market reacted favorably. Investors asked themselves how much negative news is already priced into the market? We also added a good article laying out the contrarian trade that can unfold as most investors remain bearish. The Rule of 72 shows the true power of compounded interest; read the article below! Enjoy the light reading, and have a great weekend.
Markets & Economy:
Payrolls increased by 517,000 in January, crushing estimates, as unemployment rate hit 53-year low
source:www.cnbc.com
Fed raises rates a quarter point, expects ‘ongoing’ increases
source:www,cnbc.com
Meta Soars by Most in Decade, Adding $100 Billion in Value
source:www.nytimes.com
Apple, Amazon and Google report earnings
source:www.cnn.com
U.S. credit card debt jumps 18.5% and hits a record $930.6 billion
source:www.cnbc.com
Contrarian Trade. Everyone Remains Bearish
source:www.advisorperspectives.com
Education:
source:www.investopedia.com