August 25, 2014 - Headlines Summary: The S&P 500 had its best week of the summer as falling global bond yields and easing oil prices supported the move higher. The unusually steep yield curve and the year-over-year change in leading economic indicators (2 of the most reliable leading indicators of recessions) are nowhere near worrisome levels. Corporate profits continue to grow and low inflationary pressures are giving the Fed much leeway for easy monetary policy. The major cyclical components of the economy, including housing and corporate capital spending, are far from overheating. All of this continues to provide a sweet-spot for stocks. We continue to favor Technology, Energy and Financials. Click here for the full Weekly Bulletin.
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