We continue to believe that the U.S. economy will start this year on a weak note but gain momentum as the year progresses.
-Gary Thayer, chief macro strategist, Wells Fargo
Debt ceiling standoff to be postponed
Last week, the U.S. stock market advanced to its highest level in more than five years as economic news remained positive and Congressional leaders decided to raise the debt ceiling enough to be able to make government debt and spending payments until approximately May 19, 2013. While debt ceiling problems still need to be addressed, the postponement should provide more time to work through difficult issues.