Down In The Dumps.
The melt-up momentum in U.S. stocks since late October of last year is showing signs of faltering after a mixed four trading days ended a five-week winning streak. It may be dawning on investors that “higher for longer” interest rates might be undergoing a rebrand to “higher for the foreseeable future”. There’s certainly not very much right now that is serving to create any sense of urgency for the Fed to cut interest rates.
Having said all that, the month of May came to an end and it was a positive one for all the major stock indexes after a tough April.
Markets opened cautiously on Tuesday…
The skinny
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