The Committee members seem to be cautiously optimistic, and this fits well with their decision to keep rates on hold.
What we have learned is that the holiday season outweighed the last weekly options expiration event of the decade for most investors/trader types. More of the same this week?
Some signs show Japan and Europe are hitting bumps as the year winds down.
This week brings key results from Micron, Nike and FedEx, among others.
The United States will automatically raise trade duties on close to US$160 billion in Chinese goods on Sunday, unless it issues a formal reprieve. Could we be in for a nasty surprise?
The Fed is on pause as far as targeting short term rates goes, and that is how it should be at this time.
The S&P 500 appears to be at fair value, which makes us wary of buying into a market when more insiders are selling.
With a mini-recession in the sector, all eyes are on Friday's jobs numbers, and the big question now is whether this will play out like 2015 to 2016, or worse.
All things being equal, don't be surprised when you hear analysts and forecasters raising their GDP and earnings estimates for early 2020.
I do expect there to be some early to mid-December profit taking. But to get from here to year end without hitting some mid-month turbulence would be a pleasant surprise.