ICYMI: Top 10 Discover Boating Articles In 2023.

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FEATURED INDUSTRY NEWS ICYMI: Top 10 Discover Boating Articles In 2023 As we reflect on another incredible year on the water, DiscoverBoating.com rounds up its top 10 articles that captivated the Discover Boating community. From navigating the intricacies of boating safety to uncovering the latest trends in boat ownership, the most viewed posts of 2023 highlight the multifaceted interests of boaters. Read More LEADING ECONOMIC AND POLICY NEWS Consumer Sentiment Rises 13% For Highest Two-Month Jump In Over 30 Years The Washington Post reported a University of Michigan survey found consumer sentiment “jumped 13 percent in January to its highest level since mid-2021,” marking a 29% rise since November, which is “the largest two-month increase in more than 30 years.” As for reasons why “Americans are finally feeling better about the economy,” the Post lists a 40% drop in gas prices since June 2022, a fall in “weekly jobless claims,” robust “sales of cars, clothing and sporting goods” during the holidays, and a stock market that “is surging to new records, with the S&P 500 closing at an all-time high on Friday.” The Post notes the bipartisan rise in sentiment “is fueling hope that the U.S. economy...may be turning a corner” at “a critical moment for the Biden administration.” The Wall Street Journal provided similar coverage. Federal Reserve To Begin Talks Over Rate Cuts But Still Likely To Keep Policy Steady Bloomberg reported that the Federal Open Market Committee “is widely expected to hold interest rates steady for the fourth straight meeting when it gathers in Washington on Jan. 30 and 31.” However, the “real focus though will be on what lies ahead, at the FOMC’s March meeting and beyond. Policymakers have recently suggested they’re ready to begin discussing the broad parameters for lowering rates after giving the subject only a passing nod at their last meeting in December. Several have also indicated a willingness to entertain rate cuts in the first half of 2024 if inflation falls faster than expected.” Still, “officials haven’t given any sign they plan to use their upcoming gathering to tee up a rate cut for March – although that doesn’t preclude one from happening in response to economic shifts between now and then.” Economists Project “Likely Moderation” Of GDP Growth For Fourth Quarter Bloomberg reported that according to its own survey of economists, the fourth quarter will show a “likely moderation of US economic growth,” ending “an otherwise solid stretch of activity over the final six months of 2023” and “feeding expectations the expansion will remain intact.” Specifically, the economists “project the government’s initial reading of gross domestic product...to show an annualized 2% increase... That would follow the 4.9% third-quarter advance and mark the strongest back-to-back quarters of growth since 2021.”         Meanwhile, the Wall Street Journal reported that there are many indicators suggesting strong consumer health, such as buoyant spending numbers. And the largest banks, with detailed insight into the day-to-day finances of millions of people, haven’t sounded alarm bells.         Additionally, the New York Times pointed out that projections that the US will avoid a recession are not guaranteed. The Times reported, “if forecasters were wrong when they predicted a recession last year, they could be wrong again, this time in the opposite direction. The risks that economists highlighted in 2023 haven’t gone away, and recent economic data, though still mostly positive, has suggested some cracks beneath the surface.” S&P 500 Closes At An All-Time High The New York Times reported the stock market “broke through to new heights on Friday, with the S&P 500 index finally hitting a record after weeks of bumping up against its previous peak.” The Times reported the S&P 500 “rose 1.2 percent to close above the high that was set in January 2022,” and says that this record “followed a staggering rally in the final months of 2023, as investors seized on signs of slowing inflation and signals from the Federal Reserve that it could begin to lift the brakes off the economy by cutting interest rates.” The Washington Post credited the record to “the staggering gains of a coterie of Big Tech firms against the backdrop of a surprisingly stable economy.” Meanwhile, Reuters reported that it “confirmed that the S&P 500 has been in a bull market since it closed at its low on Oct. 12, 2022, according to one measure which also puts that date as the end of a bear market.”         In addition, CNBC reported the Dow Jones Industrial Average, “which set its own record at the end of last year, added 395.19 points, or 1.05%, to end at 37,863.80,” and the Nasdaq Composite “advanced 1.70% to 15,310.97.” CNBC noted “all three major averages are now in positive territory for 2024, with the 30-stock Dow going green during Friday’s rally.”         Stock Market Continues Complex Shifting In 2024 The Wall Street Journal reports the stock market continues to have a complex beginning in 2024, as stocks have climbed to record highs even though the benchmark index is up less than two percent from where it was in December. However, the labor market and overall economy show few signs of slowing down and bond yields have begun ticking up in January. Previous Top Stories  • Discover Boating Atlanta, Chicago & New England Boat Shows Spur First-Quarter Sales Amid Headwinds  • Congress Passes Temporary Spending Bill To Keep Government Open Until March, Sending It To President Biden

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