A 1970s Wage-Price Spiral and Stagflation Scenario Keeps Percolating

Peter Navarro’s Taking Back Trump’s America

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Hi. Peter Navarro here with this week’s market wrap for the very first week of 2024.

Let’s start with the two most important observations of last week’s market rap. First, I indicated that last week’s market movements would not really matter much in terms of information about the market trend. The likely bullish or bearish trajectory of the market in 2024 might be revealed this week as the first week after the new year is often a harbinger of the year to come.

Here, it is worth noting that, going back to 1950, . When stocks finish the first week of the new year higher, the S&P 500 has been positive 82% of the time at year-end with an average gain of 13.6% -- this according to Stock Trader’s Almanac.

If that statistical past is prologue, the outlook for 2024 may not be good.

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