Today marks the third anniversary of the bottom of the market on March 9 2009. Since then the market has been up dramatically a doubling of the S&P taking place since that horrible low. The trend shows that real economic recovery is taking place now and companies have an optimistic outlook that goes hand in hand with the market’s rise. The slew of positive data that has recently come through has bolstered confidence, the jobs report today showing a 227k rise in employment and leaving the unemployment rate unchanged. To compliment this there has been an unexpectedly large rise in consumer confidence. It appears that the economy is recovering well and should be returning to its potential very soon.
John Rogers, CEO and Chairman of Aerial Investments and a member of the Presidents Council on Financial Capability, appeared on CNBC today to discuss the rise and analyse the current trend. He factored in the new high in gasoline prices in his analysis and called the $5 a gallon price tag that appears to be on the horizon a real “Psychological Barrier”. He suggested that the price would affect confidence but said he still anticipates the economy doing better as time goes on. Rogers is on the board of several different companies and invests in many different sectors. His is a unique holistic view on the state of the economy and the market in today’s circumstances. He has recently added to his share in Madison Square Gardens, the popular event and sporting arena in New York as he expands his Manhattan real estate portfolio, another sign he believes the market is swinging up on a consistent slope.
The return to form in the markets and in the physical economy looks set to continue in the coming months. Market stability has increased leaving behind the volatility of the past few years and opening up the prospect of sustained growth and a return to economic for in the United States.