Powell’s Pivot: Markets Surge
Fresh news and strategies for traders. SPY Trader episode #1346. Markets experienced a volatile week, initially declining before surging on Friday following Federal Reserve Chair Jerome Powell's dovish speech. Powell signaled a possible interest rate cut at the September meeting, citing job market risks, which spurred broad market gains across the S&P 500, Dow, Nasdaq, and small caps. Energy and Real Estate led sector performance, while tech rebounded from earlier losses. Despite ongoing inflationary pressures and a softening labor market, the Fed's pivot suggests a cautiously optimistic…
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