THE ECONOMY: As of January 2019
Rebounding off of deeply oversold conditions in late December, the S&P 500 posted its best January in 30 years, rising just over 8%. Generally positive earnings reports combined with a shift in the Federal Reserve’s outlook toward a less restrictive monetary policy spurred the gains. Also, back-to-back solid employment reports have given investors the confidence that the economic expansion remains on track. Emerging market equities were beneficiaries of Federal Reserve actions as well, up 8.77% in January.