Home For the Holidays

This is the time of the year when we all count our blessings. The Yardeni Research team thanks you for your interest in our research. We wish you a great Thanksgiving tomorrow with your family and friends at your home or theirs. Since 2010, we've been recommending a Stay Home investment strategy, i.e., overweighting the US in global equity portfolios, rather than a Go Global strategy. So far, so good (chart).

Nothing in today's data deluge changes our positive outlook for the US economy and stock market. Q3's real GDP was unrevised at 2.8% (saar). Q4's real GDP is tracking at 2.7%, according to GDPNow. Real incomes are rising to record highs and the labor market is in good shape. Inflation has moderated significantly, but may be stuck above the Fed's 2.0% target. Let's dig in: