Furstenau
Wealth
Update

The Markets

 

As Gomer Pyle used to say, “Surprise, surprise, surprise!”

 

Gomer Pyle USMC was a popular American sitcom in the 1960s. It focused on a naïve, do-gooding auto mechanic from Mayberry RFD who joined the military. Gomer Pyle, the much-loved main character, was known for catchphrases such as shazam, golly, and surprise, surprise, surprise.

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The Markets

 

Investors aren’t happy, but stocks are up.

 

If you ever participated in a fantasy football league, you may have experienced a run on a position during your draft. One person picks a kicker or defense mid-round and, suddenly, almost everyone rushes to follow suit. A similar occurrence may be happening in the United States stock market.

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The Markets

 

Brace yourself! The debt ceiling standoff continues.

 

Consumers aren’t optimistic. The Consumer Sentiment Index fell to a six-month low in May, dropping 9.1 percent month-to-month. Participants in the University of Michigan survey were:

 

• Less concerned about current economic conditions (down 5.4 percent, month-to-month), and

• More concerned about future economic conditions (down 11.7 percent, month-to-month).

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