Good morning. Stocks were up in the morning session as investors breathed a sigh of relief that the President, in Davos, was quick to point out there are no plans to take Greenland by force. While there were compelling arguments given as to why the U.S. is a better protector than Denmark, the speech strayed across a variety of topics as the President … as usual … tore into those with opinions and/or actions of which he does not agree. It did make for compelling viewing. The National Association of Realtors shared December pending home sales numbers and the month-to-month results were disappointing. While a gain was expected, the decline was just under 10% … a remarkable miscalculation … and Realtor.com feels this was due to a limited number of listings. Hopefully things will pick up when the weather gets warmer … if it ever does get warmer. An interesting story just crossed the wires … where the headline on Reuters reads: “UnitedHealth to offer rebates to its Obamacare customers” as the CEO note in a prepared statement to Congress: “we will voluntarily eliminate and rebate our profits this year for ACA coverage.” I have no further details, but this certainly seemed interesting enough to mention. Rising costs are, of course, a concern and regardless of claims that inflation is under control, many consumers won’t agree. A study by a German company and reported on Fox claims that almost all tariffs are paid by American importers and consumers … as we await a Supreme Court decision on the legality of recent tariffs … expected any day now. Inflation might not be evident … but a slew of companies are keeping prices the same while putting product in smaller packages. This “shrinkflation” is interesting and becoming more commonplace. It seems that inflation didn’t disappear at all … it just went on Ozempic. On a final note for today, you may want to get ready for an interesting weekend if on the East Coast … as forecasts are calling for a massive storm heading this way. While many times forecasters get these things wrong, the trajectory really doesn’t look as if they will mess this one up … as the present call is for this to impact 30 states and possibly cover a 2,000-mile stretch. Yowser! In fact, I’m heading out now to do some early shopping for the weekend. I’m thinking of going back on the Atkins Diet … no bun intended. Have a great day, Joseph G. Witthohn, CFA Have any questions? Please contact info@teamemerald.com
|
Call Us: +1 (800) 722-4123 
Back