Weekly Market Commentary 12/9/2016

The economy is benefiting from some impressive tailwinds, underpinning a growing sense of optimism among households and businesses. Clearly, the financial markets are also embracing a more optimistic assessment of the future; stock prices are setting records on a daily basis and the dollar has climbed to the highest level in nearly 14 years against major currencies. Time will tell whether these perceptions and asset moves are validated by events, but the unfolding post-election environment seems to have awakened animal spirits. Consumer confidence has perked up, bolstering spending prospects, and leading corporate CEOs participating in the Business Roundtable survey expect stronger sales growth next year, fueling plans for increased hiring.