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While nearly half of all Americans make resolutions, 25 percent of them give up on their resolutions by the second week of January. Don't be a part of this statistic! What resolutions have you set for yourself in 2021?
Holiday sales grew 3%, beating forecasts for a 2.4% increase according to MasterCard’s SpendingPulse. Online sales rose 49% year over year. These results were impressive for a recessionary period—the comparable figure dropped 3.5% in 2008—and highlight the resiliency of the US consumer and the benefits of stimulus.

Stocks open higher after a shortened holiday week. 

Stocks opened higher after the long weekend and after President Trump signed the coronavirus relief bill, averting a government shutdown.
  • European stocks are higher in midday trading while the United Kingdom (UK) is closed for Boxing Day
  • UK and EU leaders confirm post-Brexit trade deal
  • Asian markets are mostly higher with China the laggard

Week ahead.

The economic calendar for the holiday-shortened week includes:
  • Tuesday: S&P/Case-Schiller Home Price Index (Oct.)
  • Wednesday: Wholesale Inventories (Nov.), Chicago Purchasing Managers’ Index (PMI, Dec.), and Pending Home Sales (Nov.)
  • Thursday: Initial Unemployment Claims

January 1, 2021: LPL Financial and the stock and bond markets will be closed January 1.
Technical update. Stocks consolidated in a tight range just below all-time highs last week. The S&P 500 Index has tactical support at 3630, and will look to eclipse record highs at 3725 this week.

COVID-19 news

New COVID-19 cases over the weekend were mostly lower, although fluctuations in testing due to the holiday might skew the data.
  • Near-term concern will be on monitoring for a post-holiday surge
  • Total confirmed infections in the United States surpassed 19 million on Sunday (source: COVID Tracking Project)
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The CWMP office will be closed all day on Thursday, December 24 and Friday, December 25. We will also be closed at noon on Thursday, December 31 and all day on Friday, Jan 1, 2021.
Outlook 2021: Powering Forward
In case you missed it, make sure to take a look at the Outlook 2021: Powering Foward. In 2021 it’s time to restart the engines and prepare to navigate a new year with new challenges and opportunities. Outlook 2021: Powering Forward gets you back on the road with economic and market insights for 2021.
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Cornerstone Commentaire
"Your present circumstances don’t determine where you can go. They merely determine where you start." - Nido Qubein
Stay Safe, Stay Kind, Stay Strong, Stay Well
Our office will remain closed due to rising concerns of COVID-19 spreading. That said we will be in the office and working, just safely with the doors closed. We look forward to having you hopefully in the office soon.
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References to markets, asset classes, and sectors are generally regarding the corresponding market index. Indexes are unmanaged statistical composites and cannot be invested into directly. Index performance is not indicative of the performance of any investment and do not reflect fees, expenses, or sales charges. All performance referenced is historical and is no guarantee of future results.
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All index and market data from FactSet.
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