This Week Has Significant Implications for Markets
Syndicated Host Dan Celia Says Tonight’s State of the Union Address, Wednesday’s Fed Meeting, Thursday’s Productivity Numbers and Friday’s Jobs Report Will All Have Economic Impact
PHILADELPHIA—Several events and reports this week will have major impact on the economy, says nationally syndicated host and biblical investing authority Dan Celia of Financial Issues Stewardship Ministries (FISM, www.financialissues.org).
First, in tonight’s State of the Union Address, President Donald Trump is likely to mention the great news of companies awarding bonuses and expanding as a result of the tax cut bill. Celia said he hopes the president will also mention a sound, reasonable legal immigration plan, as many more talented workers from other countries will be needed in this growing economy.
On yesterday’s “Financial Issues” program, Celia added that Wednesday’s Federal Reserve meeting, Thursday’s productivity numbers and Friday’s jobs report will also have implications as well. Also to note are the soon-to-be-released numbers for January manufacturing and construction spending. “Financial Issues” airs from 9 a.m. to noon EST Monday through Friday on about 640 radio stations and several television networks, including NRBTV. Watch live here.
Celia says this growth and unprecedented movement in the economy represents a “new normal.”
“I’m not sure what the normal is yet, but I know this much—it’s not the old normal or what used to be normal,” Celia said on a recent program. “As an analyst, one of the things I’ve always tried to do is determine the way things are going. Economically, behaviors throughout the generations change. The economic environment changes, and that usually leads to changes in certain kinds of behavior, whether it’s behavior about investing or spending. The ‘new normal’ of this economy has sparked many more investors to get into the market—more people who want stocks, want to buy and want exposure to the markets. At the very same time, there is less inventory, so we’ve got a supply-and-demand problem. There’s a very high demand with a dwindling supply, so that alone drives the price of stocks up. And while that’s driving up the stock price, which is a legitimate reason for stock prices to go up, do good, old standard valuations that we stress over, such as the markets being overvalued, come into play? Of course, they will always come into play to some extent. But to the same extent they did 10 or 20 years ago? I don’t think so.”
Read more about Celia, FISM and “Financial Issues” here or visit the FISM web site, its Facebook page, on YouTube at Financial Issues with Dan Celia or on Twitter @financialissues; download the FISM app here.