Market Re-Cap 01/30/2012
“Lackluster News with a Positive Trend”
This week’s re-cap is somewhat uneventful. The markets were very neutral last week except for the surge the NASDAQ had of over 1%. We did get some economic news that GDP for the 4th quarter grew by 2.8%, the best we have seen since Q2 2010. Outside of these figures we had President Obama deliver his state of the union address that centered mainly on taxes and jobs. These topics, as in any election year, had mixed reviews. The expectation is that we will see no real legislative changes until after the November elections. This week look for decent employment figures, but no major surprises.
Last week is the back drop for what I expect for most of 2012, positive growth with lackluster impact. We will continue to muddle through with a watchful eye on Europe and the election. BlackRock Weekly Investment Commentary