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What Fiscal Cliff?

The Parks Wealth Report is a short weekly newsletter that keeps you up-to-date on the market and other interesting non market-related info. Securities offered through LPL Financial, Member FINRA/SIPC


 The Markets

What fiscal cliff?

Stock prices rose last week to their best weekly gain in five months as investors cheered the start of the holiday shopping season, encouraging economic data from Germany and China, improved housing data, and confidence from President Obama and Congressional leaders that the fiscal cliff will be avoided.

Is this the beginning of a "Santa Claus rally?"

Jordan Kotick, global head of technical strategy at Barclays, told CNBC, "We are about to head into the best seasonal time for the equity market." Despite this seasonal tailwind, the market's near-term direction may still depend on how Washington handles the pending budget and tax cliff.

So far, the market seems to be pricing in a compromise that will avoid the worst-case scenario.

 

The rest of the report can be found here.


 Please be sure to visit the Parks Wealth Management website at www.parkswm.com.


 Best regards,

James T. Parks, CFP®, AEP, AIF
President and Wealth Advisor


      



 

 

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Logan Ruppel December 15, 2012 at 08:43 PM
It’s easy to forget, among the fierce debates over cliffs, loopholes and tax cuts that we have to preserve the investments that uphold our ideals and make America great. That we watch out for our neighbors and protect those who are most in need. That we provide a strong safety net for our unemployed, create jobs with a living wage, and say no to failing schools. That we promise access to healthcare for infants and seniors and everyone in between. And while everyone agrees that the national debt is a grave issue, we can’t force middle class families to bear the full burden. We must ask those who can afford it to help. That’s why we need Congress to let the Bush Tax Cuts expire on the top 2%. So we can afford to invest in our future. But politicians are busy talking about “cutting government spending,” while never acknowledging what that means for real Americans. You can’t cut Medicare, Medicaid, and other social programs without cutting benefits to children, seniors, and working families who rely on those programs. Slashing the safety social net will diminish healthcare services to seniors, will deprive students of an education that would give them the opportunity to succeed, and send the message to working families that we no longer have a moral obligation to care for all Americans.

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