The Markets – U.S. equities ended the month of November up 2.81 % as measured by the S&P 500 Index. Year-to-Date the S&P 500 is positive 18.26%.
Washington – We are still anxiously awaiting the proposed “biggest U.S. tax overhaul in three decades.” Although, we believe we are very close to seeing this come to fruition, once the details are forthcoming, WCM will certainly address the changes.
As expected, President Trump nominated Jerome Powell to be the next Fed Chief. We fully expect that he will receive the necessary votes. He likely will keep the Fed on a consistent course. We do expect some loosening of the regulations of the money center banks.
The Economy –Real GDP has maintained 3.0% annual growth rate and could come in closer to 4% than 3% once the 4th quarter numbers come out in January. The strong U.S. GDP number sets the stage for a very important, and perhaps fruitful, 2018.
Headlines- Today’s headline: Former national security adviser; Retired General Michael Flynn plead guilty to making false statements to the FBI and plans to cooperate with the Russia probe. He is the fourth figure from Trump’s presidential campaign to face charges. The talk shows are a buzz with rampant speculation regarding Trump and whether or not he will ultimately face criminal charges, which would lead to the end of his presidency. Again, only time will tell.
Since our next writing will appear after Christmas we thought we would share a tid-bit regarding the conception of Santa Claus. Enjoy and may you and yours have a VERY MERRY CHRISTMAS.
“A Visit from St. Nicholas” (also known as “The Night Before Christmas” and “Twas the Night Before Christmas” from its first line) is a poem first published in 1823. It is generally attributed to Clement Clarke Moore (July 15, 1779 – July 10, 1863), although it has also been claimed that Henry Livingston, Jr. wrote it. It is largely responsible for the conception of Santa Claus from the mid-nineteenth century to today, including his physical appearance, the night of his visit, his mode of transportation, the number and names of his reindeer, and the tradition that he brings toys to children. Prior to the poem, American ideas about St. Nicholas varied considerably. The poem has influenced ideas about St. Nicholas and Santa Claus beyond the United States to the rest of the English-speaking world and beyond.
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