Hard Times Or Great Expectations?
Last week was a busy one with plenty of economic data to chew on and lots of soundbites from International Monetary Fund (IMF) officials and Federal Reserve presidents. It also marked the opening of the Q1 2023 earnings season.
Monday started out mostly jittery and trendless as the stock market tried to digest the Jobs Report from the holiday Friday before. Interestingly, the laggards were stocks in the defensive sectors like Utilities and Consumer Defensive that had outperformed the previous week, as worries eased about the prospect of an economic “hard landing” (i.e. inflation is only…
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