Brad McMillan, Commonwealth’s CIO, recaps January’s market and economic news. After a tough December, both U.S. and international markets showed gains for the month. The primary drivers were the continued drop in inflation and the decline in longer-term interest rates. Despite the market gains, the economy showed signs of slowing, with consumer spending dropping for the second month in a row and a pullback in business confidence and investment. What does this mean for the possibility of a recession in 2023? Stay tuned to find out.
Market Thoughts for February 2023