Stocks recently reached all-time highs, leaving some feeling uneasy around the marketplace as they are reminded of bubbles from the past. But earnings also reached record highs! So where does that leave valuations? In our latest Investment Update, Deron McCoy, Chief Investment Officer, explains:
FED Federal Reserve member Randal Quarles will be resigning at the end of 2021.
INFRASTRUCTURE The House finally passed the more than $1 trillion infrastructure bill. The legislation puts $550 billion towards transportation, broadband, and utilities.
INFLATION The producer price index rose 0.6% in October, translating to an 8.6% increase year over year. This number is tied for the highest reading ever.
JOBS The October jobs report showed a rebound in the economy as the jobless rate fell to 4.6%. This comes after a lull in the economy during the summer.
CONSUMER Credit card data points to a bounce in the economy as spending has returned to pre-pandemic patterns.
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