Keeping Calm. Carrying On.
Traders came into last week breathing easier after Fed chairman Powell strongly implied the previous Friday that a Federal Funds rate cut is coming on September 17th. But there are still plenty of data releases to navigate before then, including Nvidia’s earnings on Wednesday and more inflation data on Friday.
Stocks unwound some of Friday’s gains over the course of a mostly quiet summer session on Monday, but it felt more like light short term profit-taking rather than any reassessment of optimism surrounding rate cuts and the indexes all closed somewhat lower.
Word that crackpot Health…
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