Transcript:
Tom Vaughan:
Welcome to Monday, the S&P 500 was up 1.4%. Today, great start to the Santa Claus Rally, the week after Christmas has gone up 77% of the time. So this is the what they call the Santa Claus Rally. And today was a really good start to that, we’ll see how this keeps going. But it was really propelled by retail sales, there was some thought that maybe the retail sales, you know, from December 1 to December 24 would be a little lower than average, just because so much happened in October, people were worried about shortages and what have you. But it turned out according to MasterCard, that the retail sales went up 8.4% higher in this timeframe this year than it did last year, which is a phenomenal number actually really big game on the market really skyrocketed off of that. And again, we can’t discount the ability for companies to deliver in this environment. It’s unbelievable what’s happening here.
And even though we have some higher inflation, and things are costing more, we really can’t discount the consumer here and America’s ability to go out and spend, we saw retail sales go up. And we also saw in store sales go up. So people are getting out there shopping, close sales lead the way really good, really good returns today and really good market all together. So, you know, the household wealth grew from March of 2020, to now $36 trillion here in America. And so there’s a lot of money out there chasing these goods, and really is making for a pretty phenomenal economy. It’s creating some inflation that we’re going to have to deal with, but it really is a better story to have too much demand and not enough. And so that’s kind of what’s propelling this. So let’s see what’s going to happen. Great week to see what how this plays out. What have you to I look forward to talking to you tomorrow. Thank you