July 25, 2016 - Stocks finally broke out of the long-term trading range. Rising confidence that recession is not imminent and expectations of further extremely easy monetary conditions from the world’s central banks are creating a favorable backdrop for stocks. The notable acceleration in global retail sales and stabilization in global capital expenditures are encouraging signs for a pickup in global economic growth. The U.S.consumer is leading the way and is benefitting from higher personal income, lower energy expenses, low interest rates, and record net worth. Housing, hypermarkets, Health Careand drug retailers are all beneficiaries of a healthy U.S. consumer.
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