The Labor Day holiday has come later this year, and given the tone of markets and exchange traded funds (ETFs), plus the state of the economy, why not brush up on your portfolio with your free time?
Labor Day can be considered a week late this year – the holiday falls on Sept. 7. Last year, Labor Day fell on Sept. 1, which was before the start of the school year for many students.
According to a survey, AAA said it is projecting that 39.1 million travelers will take a trip of 50 miles or more from home this Labor Day, a 13.3% decrease from Labor Day 2008. Many Americans are simply staying put this Labor Day and choosing to stay near home, says Chris Reidy for The Boston Globe.
While higher gas prices might have given rise to the “staycation,” they’ve been benefiting funds like United States Gasoline (UGA), which is up 70.1% year-to-date.
As the markets are beginning to show strength and signs of health are beginning to appear in the economy, this could be an opportunity to reevaluate your strategy before summer ends and the markets re-open. In fact, our latest ETF book which has just been released and is finally available online, making a perfect Labor Day read!
Have a fun weekend!
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.