(24 March 2024) Stocks rebounded last week as Fed Chair Jerome Powell delivered surprisingly dovish comments after the latest FOMC policy meeting. The S&P 500 gained more than 2% on the week to 5234 while the rate-sensitive Nasdaq-100 added 3% to 18,339. This bullish outcome was quite unexpected as I thought we might have seen some post-FOMC fallout on the Saturn-Mercury-Chiron alignment.
This melt-up rally seems unstoppable. The Fed did investors a big favor last week as Powell suggested that slightly higher inflation (i.e. above 3%) would not necessarily preclude any rate cuts. In signaling the Fed’s willingness to tolerate higher inflation, Powell opened the door to three rate cuts in 2024. In so doing, the Fed appeared to be...
(26 February 2024) Stocks rebounded last week as investors piled into AI-related stocks after the Nvidia earnings report. The S&P 500 added more than...
(17 December 2023) US stocks rallied again last week as the Fed Chair Jerome Powell delivered a long-awaited pivot towards cutting interest rates. The...
(10 December 2023) US stocks pushed higher last week as Friday’s strong jobs report provided more evidence for a market-friendly soft landing. The S&P...
(26 November 2023) Stocks extended the rally last week as dip buyers continued to dominate the market given the bullish Thanksgiving holiday seasonality. The...